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Author: 


Smith,  William  W. 


Title: 


Practical  book-keeping  for 
youth 

Place: 

New  York 

Date: 

1873 


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MASTER   NEGATIVE  # 


COLUMBIA  UNIVERSITY  LIBRARIES 
PRESERVATION  DIVISION 

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ORIGINAL  MATERIAL  AS  FILMED  -    EXISTING  BIBLIOGRAPHIC  RECORD 


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Smith,  W[iUiam]  W. 

Practical  book-keeping  for  youth.  Book-keeping  by- 
single  and  double  entry,  simplified  ...  By  W.  W.  Smith 
and  Edward  Martin.  New  York,  A.  S.  Barnes  &  Burr, 
1859:  3^gy3^ 

3  p.  1., -t9T^3,  98,  t2i  p.  incl.  forms.     22 J  x  19"". 

70,  105  p.        forme.        23  x  19  om. 


1.  Bookkeeping.        i.  Martin,  Edward,Moint  authorA 

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Library  of  Congress 


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FILM  SIZE:  .^mm 


REDUCTION  RATIO:     19  •) 


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DATE  FILMED:  !^■'^^~°i^ 


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PRACTICAL  BOOK-KEEPING  FOR  YOUTH. 


BOOK-KEEraG 


BY 


SINGLE  AND  DOUBLE  ENTRY, 


SIMPLIFIED, 


AND 


ADAPTED  TO  THE  USE  OF  COMMO?^  SCHOOLS. 


BY 


W.   W.   SMITH   AND  EDWARD   MARTIN. 


NEW    YORK: 
A.  S.  BARNES  &  Co.,  Ill  &  113  WILLIAM  STREET. 

1873. 


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Cntsred  aooordino  to  Act  of  Conorem,  in  the  Year  Eighteen  Httndked  aito  Firrr-wnrE. 

BY    A.   S.    BARNES    &   BURR, 

In  the  Clerk's  Office  of  the  District  Court  of  the  United  States  for  the  Southern  District 

OF  New  York. 


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PREFACE. 


The  following  system  of  Book-keeping  by  Single  Entry  is  an  easy,  concise,  and 
methodical  plan  to  record  every  transaction,  and  to  exhibit,  on  slight  inspection, 
the  actual  state  of  the  business. 

Mostly  all  the  works  on  this  subject  now  employed  have  been  prepared  for  the 
use  of  wholesale  merchants,  leaving  the  retailers,  mechanics,  farmers,  &c.,  who  transact 
the  greater  portion  of  the  business  of  the  country,  without  a  guide. 

This  work  being  self-instructing,  is  particularly  well  adapted  to  fill  this  vacancy, 
and  enable  all  to  keep  their  accounts  with  perspicuity  and  accuracy,  whose  business 
is  NOT  of  such  a  nature  as  to  require  the  more  complex  method  of  accounts  comprised 

in  Double  Entry. 

In  compiling  this  work,  constant  care  has  been  taken  so  to  simplify  and  arrange 
it,  that  young  ladies  may  easily  comprehend  its  mysteries,  and  thus  render  to  them- 
selves, parents,  or  others,  great  service. 


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CONTENTS  OF  SINGLE  ENTRY. 


QussnoNB  AND  Answers 9 

Index  to  Fibst  Form — Single  Entbt 11 

Single  Entkt — First  Form 12 

Balance  Sheet  of  First  Form 28 

Single  Entry — Second  Form,  First  Set 29 

Dat-Book 81 

Ledger 89 

Balance  Sheet 46 

Single  Entry — Second  Form,  Second  Set 47 

Day-Book 49 

Statement  of  the  Net  Profits  or  Losses  ;   also  of  the  Dividends 55 

Ledger — Second  Form,  Second  Set 57 

Index  to  Ledger 58 


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O.  What  is  Book-keeping?  , 

^.  Book-keeping  is  the  art  of  recording  mercantile  transactions  in  a  regular  and 

systematic  manner.  . 

NoTE.-Book-keeping  is  the  art  of  keeping  accounts  in  such  a  manner  that  a  person  may  know  the  true  state  of  hia 
business  and  property,  or  of  his  debts  and  credits,  by  an  inspection  of  his  books. 

Q.  "What  is  an  Account? 

A  An  Account  is  a  registry  of  debts  and  credits,  or  charges. 

NoTE.-An  Account  is  an  entry  in  a  book,  or  on  paper,  of  things  bought  or  sold,  of  payments,  services,  Ac,  includ- 
ing the  names  of  the  parties  to  the  transaction,  date  and  price,  or  value  of  the  thing. 

Q.  How  do  we  arrange  an  Account  ? 

A.  We  place  on  the  left-hand  page  of  the  hook,  or  side  of  the  paper,  the  debits ; 
and  on  the  right-hand  page,  or  side,  the  credits  of  the  person  with  whom  the  account 

is  kept. 

Q.  How  many  kinds  or  methods  of  Book-keeping  ? 
-  A.  Two  ;  one  by  Single  Entry,  and  one  by  Double  Entry. 

Q.  What  is  Single  Entry  ? 

A.  The  name  Single  Entry  is  applied  to  that  kind  of  Book-keeping  where  the  trans- 
actions have  but  a  single  entry  in  the  Ledger. 

Q.  What  is  Double  Entry  ? 

A.  The  name  Double  Entry  is  applied  to  that  kind  of  Book-keeping  where  the 
amount  of  each  transaction  is  entered  on  two  different  accounts  in  the  Ledger. 

Note.— The  Balance  Shoot  will  exhibit  a  statement  of  double  the  amount  of  the  present  worth- 

Q.  What  books  are  necessary  in  Single  Entry  ? 

A.  TJie  Ledger,  the  Day-hook,  and  the  Cash-book. 

Note.— The  Ledger  and  the  Day-book  are  the  only  books  generally  used  in  Single  Entry,  but  it  is  very  desirable 
that  a  Cash-book,  and  in  most  cases  a  Cash  Sales-book,  be  kept. 

Q.  What  is  the  Ledger  ? 

A.  The  Ledger  is  the  principal  hook  of  accounts  among  merchants,  as  it  exhibits  the 

condensed  accounts  of  all  the  debtors  and  creditors. 

Note.— The  Ledger  contains  a  systematic  view  of  the  whole  business ;  all  the  other  books  nsed  in  business  may  be 
considered  as  tributaries  to  it,  as  it  is  to  this  the  merchant  refers,  not  only  for  the  general  state  of  his  aflfairs,  but 
for  the  state  of  each  particular  account.  The  Debtor  side  of  the  Ledger  is  a  list  of  our  effects  or  property  ;  the 
Creditor  side  is  a  list  of  our  liabilities,  or  what  we  owe.  If  the  amount  of  the  Dr.  be  the  larger,  the  difference 
shows  what  we  are  worth ;  if  the  amount  of  the  Cr.  side  be  the  larger,  we  are  insolvent,  and  the  difference  shows 
for  how  much. 

Q.  What  is  the  Day-book? 


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Jl.  T/ie  Day-book  ts  a  book  in  which  all  business  transactions  should  be  recorded  at 
the  time^  and  in  the  order  in  which  they  occur. 

Note.— In  the  Day-book,  no  space  is  reserved  for  each  man'R  account,  as  there  is  in  the  Ledger,  but  every  transaction 
is  entered  as  it  occurs.  AU  transactions  should  appear  in  the  Day-book,  otherwise  their  correctness  may  be  questioned. 

Q.  Whcit  is  the  Cash-book  ? 

A.  The  Cash-book  is  the  book  in  ivhich  is  i^ecorded  every  sum  of  money  received  or  paid. 

Note.— The  Cash-book  should  be  balanced  every  evening. 

Q.  What  is  Posting? 

A.  Posting  is  the  collecting  and  transferring  the  several  items  of  each  person^s 
account  from  the  Day-book  to  their  appropriate  places  in  the  Ledger. 

NoTK. — The  several  entries  should  be  posted  in  the  order  of  the  time  of  occurrence. 

Q.  What  is  the  Balance  of  an  account  ? 

A.  Balance  is  the  difference  between  the  Debtor  and  Creditor  amounts  of  an  account. 

Note.— The  Bahvnee  or  difference  between  tlio  two  sides  is  placed  on  that  side  having  the  least  amount,  and  shows 
that  so  much  is  wanting  to  render  the  two  aides  equal. 

Q.  What  is  balancing  ? 

A.  Balancing  is  the  finding  of  the  difference  between  the  Debtor  and   Creditor 
amounts  of  an  account. 
Q.  What  is  a  Debtor  ? 
A.  A  Debtor  is  the  person  or  thing  that  owes. 

Q.  When  is  a  person  Debtor  ? 

A.  When  he  gets  into  my  debt,  he  is  debtor  for  the  amount 

Q.  What  is  a  Creditor  ? 

A.  A  person  to  whom  a  sum  of  money,  or  other  thing,  is  due. 

Q.  When  is  a  person  Creditor? 

A.   When  I  get  into  his  debt,  he  is  creditor  for  the  amount 

Note.— When  I  get  out  of  his  debt,  ho  is  Dr.  for  what  1  pay  him ;  when  he  gets  out  of  ray  debt,  ho  is  creditor  for 
what  he  pays  me. 

Q.  What  is  a  Debit  ? 

A.  A  Debit  is  your  account  against  another. 
Q.  What  is  a  Credit  ? 

A.  A  Credit  is  your  account  in  favor  of  another. 
Q.  Which  side  of  the  Ledger  is  used  for  Debits,  and  which  for  Credits  ? 
A.  Tlie  Debits  are  always  on  the  left,  and  the  Credits  are  always  on  the  right  sids 
of  the  page  of  the  Ledger. 

Note.— If  two  pages  be  used,  the  one  on  the  left  contains  the  debits,  and  that  on  tlie  right  tho  credito. 

Q.  What  accounts  are  kept  by  Single  Entry  ? 

A.  The  accounts  kept  by  Single  Entry  are  only  those  with  persons. 

Note.— The  Dr.  side  of  an  account  will  show  what  they  owe  us,  and  the  Cr.  side  what  we  owe  them. 

When  using  this  book  the  learner  should  consider  the  business  his  own,  and  that  he  has 
really  an  account  with  each  of  the  persons  mentioned. 


PRACTICAL  BOOK-KEEPING  FOR  YOUTH. 


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ical order,  with  the  number  of  the  page  of  the  Ledger  on  which  the  accounts  of  such  persons  are  entered. 

Indexes  usually  occupy  the  first  part  of  a  Ledger,  and  are  generally  so  arranged  that  each  letter  of  the  alphabet  has  a  page 
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Subtract  the  smaller  amount  from  the  greater,  and  place  the  difference,  which  is  called  "  Balance,"  on  the  side  of  the  less  amount. 
If  the  debit  side  be  the  greater,  the  difference  or  "Balance"  is  due  to  you  ;  but  if  the  credit  side  be  the  greater,  you  owe  that 
«nount  to  that  account.  In  the  above  account  the  sums  of  the  debit  side  amount  to  $108.65,  and  the  credit  side  to  $195.78 ;  you 
subtract  the  $108.65  from  $195.78,  and  place  the  difference  or  »  Balance,"  which  is  $87.18,  on  the  debit  side,  us  that  is  the  less, 
and  which  is  the  amount  of  what  you  owe  James  Fairman.  The  debit  and  credit  sides  wiU  now  foot  alike.  You  next  draw 
single  lines  under  the  columns,  directly  opposite  each  other;  and  after  placing  the  amount  under  them,  you  draw  double  lines 
under  the  amount  to  signify  that  the  two  sides  are  balanced  and  closed.  When  one  side  of  the  account  contains  more  entries 
than  the  other,  as  in  this  example,  an  oblique  line  should  be  drawn  across  the  vacant  space.  The  closing  entry,  "  To  Balance," 
is  often  made  with  red  ink,  in  order  to  distinguish  it  from  the  other  entries,  which  are  real  debits  or  credits.    Red  ink  should  be 

used  also  for  the  ruling. 

If,  after  balancing,  you  desire  to  reopen  the  account,  you  have  only  to  bring  down  the  balance  on  its  proper  sid^that  is, 
the  side  having  the  greater  amount,  as  in  the  account  above,  after  balancing,  we  find  that  the  balance  is  in  favor  of  the  credit 
side,  or  that  we  owe  James  Fairman,  $86.13  ;  and  in  reopening  the  account,  we  must  credit  James  Fairman  with  that  amount. 
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23 


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(^  S  coU>  o/  ^/fooc/. ®      <S.OO 

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PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


16 


Q/noTTiad    &rzx 


'tse?na7i. 


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/  Qy^7noia,?tc/u9?t  .^oo/i,  uAc^n,  ^ucn,. 

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/  auaU  Q^lno^  ^^Icfia  S^/uci/. 

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28 


PRACTICAL  BOOK-KEEPING  FOR  YOUTH. 


^^auince  (2^dee^. 


17 


'9?t€, 


,£Sa^nced  cute 
^r^^liia^n  .^^e>uu>n 


/ 


e?// 


^J 


^a^nced  (^  owe. 

^a^mj  c?J^atl^na7i 

G4ix^/i<i7i  Gytocu/t, 

"^//u/Ui,    (^^UMZU^. 

'^^<tl^   .^^tui^nce^ 

V^f<?i^^  Q/i^wfnO'n, 


/ 
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<^/^ 


^f 


Balance  Shebt  in  this  book  is  placed  at  the  end  of  the  Lodger,  but  for  convonionco  of  reference,  as  the  books  should  bo 
balanced  at  the  end  of  every  your,  the  several  Balance  Sheets  shoilld  bo  put  m  a  separate  book,  so  that  they  can  bo  readily  referred 
lo  and  contrasted. 


^„     ■  —  .^  iii»wiai<  w^ 


SINGLE   ENTRY, 


DAY-BOOK 


SECOND    FORM.  — FIRST    SET 


L| 


I*;' ' 

) 


i-y 


f  ,| 


33= 


SECOND    FORM. 


The  books  required  in  this  form  are  the  Cash-Book,  Day-Book,  and  Ledoee. 


CASH-BOOK. 

The  Cash-book  is  kept  for  the  purpose  of  recording  the  amount  of  all  moneys  received  and 

paid. 

The  amount  of  Cash  on  hand  at  the  commencement  of  business,  and  all  money  received 
from  any  source  whatever,  must  be  entered  on  the  Dr.  side,  specifying  for  what  it  was  received ; 
and  all  money  paid  out  for  any  purpose  whatever  must  be  entered  on  the  Cr.  side,  specifying 
for  what  it  was  paid.  Tlie  difference  between  the  two  sides  at  any  time  will  be  the  sum  on 
hand.  In  balancing  the  account.  Cash  should  be  credited  with  the  amount  on  hand.  The  first 
entry  in  the  Cash  account  must  always  be  on  the  Dr.  side,  for  no  one  can  pay  out  money  unless 
he  first  has  it  on  hand,  therefore  the  Cr.  side  can  never  exceed  the  Dr.  side  except  by  error. 
By  some,  a  Cash  account  is  kept  in  the  Ledger,  in  order  that  the  Ledger  may  show  the  whole 
business.  Tlie  account  is  kept  by  posting  at  the  end  of  each  month  in  one  item  the  whole 
amount  received  during  the  month,  and  in  another  the  whole  amount  paid  out. 

DAY-BOOK. 

In  this  form  all  our  transactions  are  first  entered  upon  the  Day-book,  and  from  it  they  are 
posted  or  carried  to  their  proper  places  in  the  Ledger. 

Whenever  you  perform  work  for  a  person,  or  sell  him  any  thing,  or  pay  him  money,  or  he 
in  any  manner  becomes  indebted  to  you,  lie  must  be  debited  with  the  same  in  this  book,  to 
show  that  he  owes  you.  And  whenever  any  pei-son  sells  you  any  thing,  pays  you  money,  or 
does  work  for  you,  or  you  in  any  other  manner  become  indebted  to  him,  he  must  be  credited 
with  the  same  in  this  book,  to  show  that  yoti  owe  him. 

In  entering  purchases  it  is  allowable  to  say  "Amount,  as  per  bill,"  &c.,  as  you  have  the 
Invoice  ;  but  ii^  entering  sales,  the  items  should  always  be  mentioned  in  this  book.  Erasures 
are  not  allowable. 

Ik  this  work  the  pupil  should  post  the  Day-book  entries  as  soon  as  made  ;  it  is  usual  for  merchants  to  postpone  posting  until 
some  leisure  time ;  but  it  will  be  more  advantageous  to  the  pupil  to  post  as  ho  advances,  thereby  getting  a  practical 
working  of  the  books. 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


31 


(S^«^  'ffoJ,  /anuaz^  S,  ^^S^* 


% 

V 


(D^ 


ca'nt'fnence 


Q^77U>un^  o^  ^Soj/^  o^^  /^^i<^  /^'^    ^^/-A./^ 

G//^i^/uz,7ic/^  Oft  A<z7ic/  /.^  ofn^n^^J 

fa^mo  S^acltnci?t  ow<sJ  ^?i^  o?h  account 


//       ft 


//       /» 


//       /' 


4 


(^ 


dutae  ad 


A^'^O'Utd  : 


/ 
47 

^§ 


^7 
7^ 


7^ 

74 


/ 


da. 


4^-^. 


•^ 


<S4 


cf*/^ 


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^4^ 


.  Bo  particular  to  head  each  page  of  the  Day-Book  with  tho  name  of  the  place  of  doing  bn.ines,,  and  the  date  of  the  f^ 

transaction  on  the  page.  ,    ^  .    v  ..v     /> 

t  The  learner  must  put  in  this  column  the  number  of  the  page  of  his  Ledger-not  the  number  that  is  here,  as  this  r^fex. 

only  to  the  page  in  the  Ledger  of  this  book. 

Folio,  in  Book-keeping,  means  page,  or  rather  both  the  Dr.  and  Cr.  side  of  an  account. 

The  above  account  must  be  posted,  that  is,  carried  to  the  Ledger,  under  the  head  of  "Stock  Account"  (which  r^resenU 
your  own  name),  crediting  all  that  is  invested,  and  debiting  all  that  is  owed.  Therefore  Stock  must  be  credited  with  $4226.51. 
and  debited  with  $372.34.  James  Fairman,  William  Benson,  James  Jones,  and  Nathan  Swain  must  each  be  debited  with  the 
amounts  opposite  their  names,  because  they  owe  you;  Walter  Howard  and  Charles  Lawrence  must  be  credited  with  the  amount. 

opposite  their  names,  because  you  owe  them. 

You  must  write  the  units  column  of  doUars  as  near  the  division  line  of  dollars  and  cents  as  possible,  to  prevent  the  insertion 
of  any  other  figures.  Keep  the  columns  of  units,  tens,  &c.,  directly  mider  each  other,  and  at  equal  distances  apart.  Make  nea^ 
plain  figures  of  uniform  size,  the  7's  and  9's  extending  but  a  short  distance  below  the  line,  and  avoid  all  flourishes,  as  accuracy, 
perspicuity,  and  neatness  are  the  excellencies  of  Book-keeping. 


i;r 


32 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH, 


2 


G4i 


eti^ 


oz^,    J^^nuazu  S,  /oS^, 


^ 


^ 


^m&J 


(^a 


auf/ian. 


q/o  i^/  ^.  o/  Me/^ne</  C^u^ ®  .^ 


ym"^^   (Me 


^ 


^ 


un 


&n^jao?z,  o/ci 


§ 


^^ 


oton^ 


ia   <:3^y<U> 


y. 


ea. 


■m 


-/- 


enjon^ 


S'o  7  ^.   o/(^u^ ®  .^ 


.^^ 


o, 


¥ 


u^^l 


.Jf 


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©/^a/^n   (^ 


iMzm. 


(i^o  ^\  ^.  ^/4^ ®  '^^ 


/ 


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S^c 


'alcna 


^ol7i   (^^OicA. 


fS. 


(^. 


iutnan. 


T 

(3/o   /  dezO'  of  <3silA^j7icn/u 


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fp 

7  ^. 

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P* 

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t?§ 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH 


33 


8 


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■ozn^,     /^a 


a?iuazu   "fS,   foS^^ 


^ 


Sc/zMt^u   <b'f 


'i>'??i77tand , 


S  m 


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/  oa^  o/  .^/i/tfcutauea^  QT^mui,. - 

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^  /^.   o/ ^^m^^i^  G%.^.al. y^ 

£     „     y'^/^v^ y^ 

(^niuA ^OO 


/ 


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of  (2/ni,(/A 


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Qzyan4e€  ,^£M(Mitdi 


^an^ 


S'o  ,^  /^.  o/  ^u^Ul..... - @  .^/ 


7  ..   o/ 


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ox  o, 


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cfincimon,. 


uau 


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^cifne^   (^a 


ae-ZTnan. 


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^  ^.  ^/^«/^i ®  .=^/ 


{^tA^/i^i,    ^U^Ctlc'^i).. --- ^4 


Z^^;^  ^^nade^  ^ee/,   //  X ®  .^^ 

<^^  c^^^ut - 


^^- 


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tetat-e^ne 


^tai,cd,  4y<  /dj ®  .0§ 


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34 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


(3^^  ^oJ,   /ariuaii^  ^4,  /c^^- 


^ 


4 


Q/o    Saii^,  o?t  (iccou?i^. 


^^oioe  (^n 


4\    d/o  ^  Sj.  o/  Mcmi 

„     ^     „     o/ 


,,     k/^.   o/ Q^?n/.eUc^/ S'e^^ ®   ^ '^^ 

„     4    ,,    o/  MuU^l. 
(i/o  i'^  //i).   o/ ^S^e£^tf. 


If  you  keep  the  bilk  on  file,  this  entry  is  admissible ;  if  not,  you  must  enter  the  items, 


PRACTICAL  BOOK-KEEPING  FOR  YOUTH. 


35 


OAn^?^   ^i^ozd,   ^anuazu  J^,  /o<^^. 


^ 


J7 


^. 


SatetaM  (s/^kxne. 


z. 


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q/o  /  ^aa,  o/  (Ssn^mcTiy 


^. 


^a^med  igr oilman,  ^^jj^,. 

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"  ^     "     <^/  ^<^^^^^'^^^- - 

,,  "f  ^ui^i>  i^aicTuz 

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„  /  ^ua  o^  (Ssnuy/run/u _ ....-._ 


/ 


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Wi 


m 


36 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


^ 


,,      /  /^ox  o/  '^c?tna?non 

„      /  /^/^  o/  ^a/ieUi 


^ 


^y    ^a^d. 


-SO- 


i* 


^y^f^i^iam  tendon, 

_^^    '^a^d. 


.JO- 


■SO. 


T 


(^iuf?tanj 


„     /J'  ^aia  o^  (?9oa^ 


^y    ^cuyd. 


JO- 


^}i  Sa.  o^  '^daeac 


Q 


e//eiiA  ^oJ,  /anuazy  ^.  /^^. 


1 


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(»  ./^ 


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PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


37 


OAhe^^  ^c/ozd,   ^ana^zu  SO,  YoS^* 


^y  ^cU 


Z, 


SC^. 


SeMMim  S^ 


'^^n^Tmnd, 


Z, 


^ 


Q/o   /  diza,  of  <3sn^nt^y - 

„  7  ^-  y  ^^^ ®  '^^ 

,,     JS  acc^na  o/  ^cn4S^[^zi> <^^ 

cf/ . 


(i7o  S  ^.  o/  JS^uO^^ @  .^/ 

"        7      "       o/^  (^7U^[^t /^ 

,,   /  „   t>/  M^^tcu^:^. /4 


H, 


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cf/ 


?^. 


add. 


-cT/. 


My    ^add.... 


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/ 


44 


70 


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SINGLE    ENTRY. 


LEDGER 


SECOND   FORM.-FIRST   SET. 


:r  ^ 


i!   ; 


!i!l 


#1 


lii 


40 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


ef/ic/ex  lo  (^ecoTiJ  (^o^m,   ^W  G??^. 


(^ 


^cn^U^n,    ^yFc^^^a^n, ^ 


&m/mon4>,    Sc/i4MX^ " - ^ 

(#: 

S^cn^tmaTt,  ^aTTzea '^ 

S^Ucnian,  S/^maa ^ 

(^SyuHzU    ^^^i ^ 

£mea,  ^niea '^ 

Sir. 

VAi^n,cfi,    H^na4,^ ^ 

toJ&Jt,   ^^anc^t. ^ 


Q^Uon.    '^^i^ ^ 

(P. 


WaU^i.  Mc^a ^ 


S%»^/»    Grccoun^. ' 

^wcdn,    Q4it€/uin ^ 

0%?«<?,    Sc^walc/. ^ 

(§/iu?7ta?i,    '^f*?^ ^ 


7 


PRACTICAL  BOOK-KEEPING  FOR  YOUTH. 


41 


^. 


(3/iocn^   &z^coan/. 


i. 


/<%'. 

^n,. 

1 

^o  (^^7tc/lceJ^ 

/ 

^§J4 

<^4 
// 

J/ 

/(%?. 
J^''- 

S 

J^   (^t^r^JuJ^ 

1 

• 

/ 

/ 

,,     {^u/.^lifia^a/,. 

4'^^^ 

4^^^^ 

/T^ 

^^Ma/.A'^,^u^t 

07 

^§S4 

// 

*  "Sundries  :"  several  things  or  matters. 

In  tills  entry  we  use  the  term  "  Sundries,"  instead  of  the  names  Walter  Howard  and  Charles  Lawrence,  as  by  doing  so  we 
save  space,  the  two  sums  being  condensed  into  one. 

t  In  this  entry,  the  term  "  Sundries"  is  used  instead  of  the  items  "  Cash,  Merchandise,  James  Fairman,  William  Benson, 
James  Jones,  and  Nathan  Swain,"  for  the  reasons  given  above. 

The  above  account  properly  belongs  to  Double  Entry.  It  is  inserted  here  merely  for  convenience,  in  showing  the  amomit  of 
capital  invested. 

The  Debtor  side  shows  what  I  owe  when  uiy  books  are  opened,  and  the  Credit  side  shows  my  property  at  that  time. 

In  commencing  the  Ledger,  the  pupil  must  notice  the  spaces  in  the  printed  form ;  and  then,  as  the  prmted  form  and  the 
blank  books  are  nearly  of  the  same  size,  he  must,  in  writing  in  the  blank  books,  preserve  similar  spaces.  The  several  accounts 
and  items  are  to  occupy,  as  nearly  as  possible,  a  corresponding  place  in  the  blank  books.  Care  must  be  taken  to  write  of  a 
uniform  size  and  slant,  to  make  small  capitals,  and  the  letters  that  extend  above  or  below  the  line  short,  so  as  not  to  interfere  with 
the  line  above  or  below.  The  units  column  of  the  dollars  should  be  placed  close  to  the  division  line  between  dollars  and  cents, 
80  as  not  to  admit  of  any  additional  figures. 


6 


I 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


^2 

* 

/ 

dTo  3^a/^nc^ 

In  this  account,  you  see  that  the  Dr.  side  is  the  greater ; 
jm.,  add  :U  amounts  ;  finish  hy  ^^ ^^^ ^^T::^:^;^^  ,ou, 
In  opening  the  new  account,  the  Balance  is  carried  to  the  Dr.  side,  as  > 


;  therefore  the  Balance  is  entered  on  the  Cr.  side,  in  order  that  the 


J 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


8 


^. 


d/o  (M>c4. 


Q/o  .^^auiince 


^. 


d/o  ^€^ 


^. 


^4 


Ranted    J>one^, 


s§ 


s§ 


74 


74 


r9:r 


..^^y  -^auznc^. 


(5^m/da?i   (2/maen, 


/%?. 

If 

S'5 

/^ 

Ja<n. 

^O 

1 

^4 

1 

^^ 

My  ^a^^. 


auez^ 


oziAaZi 


€1, 


44 


S^4 


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§4 


S^e^. 


^4 


M^  (Mocd.. 


43 


i. 


74 


i. 


£J 


£^ 


^4 


^4 


i. 


, ,      G^oelcnanc/cac . . 


My  Mczi^ 


n,c^ 


\ 


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^P7 
^7 


^^4 


44 


^4 
94 


N  iff  if' 

!lfi. 


p- ' 


!h 


44 


PRACTICAL    BOOK-KEEPING    FOIl    YOUTH. 


^. 


/(%?. 
^^. 


2S 


<£/o    '^a^d. 


^. 


JO 


£/o  <^^cei^uanc/c<>e.. 


^. 


£7 
so 


(£/o  <Q^^U>na7ic/u^. 


^3nat^ed   c^ati/zence. 


^. 


/c^'. 

4       ifO:f 

OO 

J^n. 

S  . 

1 

S4 

oo 

OO 

ft 

/ 

1 

! 

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My  (Moc4 


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My   Ma^^ic^. 


oiae    O/fM'fniifi. 


i§^p. 

4 

7^ 

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JO 

^ 

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OS 

7 

My  ^a^. 


^Snaz/ed   QMazion. 


f§^p. 

^ 

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o§ 

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JO 

^ 

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if 

1 

4 

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1 

Mv   ^a^4. 


=7 


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(fo 


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^ 


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oo 


OO 


OO 


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7 


7 


j^ 


j^ 


^. 


£^ 


^^ 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


^. 


0az6Aata    &7 


TiiTnond. 


JO 


Q/o  ^^^IcdaTtc/cae 


q7o  J^tzuznce , 


/c%?. 

J 

o 

y/ 

Jun. 

J/ 

o 

4 

OO 

7 

^ 

JO 

/^ 

/^ 

^/ 

My  Mudtnc., 


^. 


^^aneee    c^z^a 


azi/do/i. 


^. 


Q/^omad    (^Zi 


zeeman. 


£^ So  0^lc4an,c/t:ae.... 


/c%?. 


cf/ 


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/ 


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1 

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/ 

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^ 
^ 

J£ 

^/ 
4^ 

4/P 

^  ^^/. 

„      ..^a^nce 

/ 

O 

4P 

J 

^ 

4^ 

r^y^   .^f^r/zwivrv     x 

Sf^rJ. 



• 

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{?ff 


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i 


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it' 


IM 


Hi 


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PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


^. 


^ho^ei^  J^^ai^^et, 


^7 


/ 


(?7o  G^Celcnayiai'^^ 


^o   ^a/a 


afurr.. 


^ 


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Mt^  :SBci^nce 


t. 


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p,-. 


S7 


£7o  (S^^icu^fic/ia^ 


J 


/ 


^/ 


/an. 


J/ 


My    ^cux4. 


^a/aywr    Q^'/fee^. 


€anceJ  aae  /o  ^rfie, 

^a7neJ   Qj''at'l7/ia?i 

7fcUUl77V   J^^cji^on 

^'uTneJ  J^'o7ieJ 

Sc/iauu/  S f?t7no/iJ 

,^^a?icei    <££aKM)on 

.^t&^el^     ^/vriJi^.y 


/ 

r 

I; 

4 

7J 

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74 

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£/ 

4i? 

79 

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7 


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44 
<^4 


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,■ — \ 

^'4 


=n 


SINGLE   ENTRY, 


DAY-BOOK. 


SECOND   FORM.  — SECOND    SET. 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


49 


4 


eM 


ete^ 


?^   (^emuazu  /,  /a  SO. 


//^^<ia^n    (§r.    (S^iizn'^   ant/  ^eo^  (^«u?7mn   na^/e    /md    c/x^  eft/^^  4n4b   co- 

^4:^1   Me  ^^uUn^    ^ledati^kxd   a^  /la^^^iit^,        (^^  ^z/4€d  ^   ^/4^   a^   ^   aa/ftd 
ana  'U^ded. 


\ 


;.:* 


t      I': 


/ 


Wi/iL^  (#r  (^^n/y. 


^^^t^&im  (#^  (^4an^, 


^p€Me  (^uiman. 


€. 


J'/^/ 

00 

p§ 

7^ 

/J'^ 

<^4 

7^ 

Ot? 

j>/^ 

^JS 

7^ 

00 

efcf 

cfcf 

/^^ 

4^ 

SS^^ 


7^ 


^^o 


Sp4^ 


fy 


^^ 


50 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH 


3 


Q^e 


en^ 


^oJ,   (^e/ftaatt^-  J",  f^Sj^. 


vncJ^ 


e^i^. 


_cf- 


W.^^  2Be 


endon. 


'€, 


S'o  4  ^-  o/  McaA^i ® 


§ 


^C^i^Ti, ^^ 


<^£ai^ . 


ai^iman. 


dTo  2f  ^.  o/  MeJ^n^  (29f^^ 


.®  .O^yi 


S^.  d/^ 4P^ 


,,    ^ 


l2S(atei. 


^Janie/  ,^a^&da 


n. 


^. 


^%  ^.  o/  M^dS/ea, ® 


4%     „     cJ  Q^i^oc^    ^o^fe. 


7- 


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nt'nuxnd^ 


^. 


^  y.  U/.  o/ G^^Udei^.. ®  ^^-^^ 

/.^ 


,/^ 


oo 


oo 


oo 


4^ 


^4 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH, 


51 


©^, 


ez^A 


m^   (^eAtiazu  <^,  f<9<^^. 


^^^dj  (^^. 


uon^ 


to/U  o. 


o/  (^^/c^^eJ @   .4^ 

o/^/J  ^/^^ /^ 

/      &^di?n,    /{?K  /^ /^ 


.^. 


^.^^^    ^ 


"ii^ence^ 


V. 


c^  ^^/.. 


y^- 


Sc/wait/  (£^ 


ne^ 


JS 


(^o  4y»  «^.  o^  ^u^^el @        .^^ 


<^y. 


cdcut^. 


//  ^4 


^ 


C^u 


tif^at 


t/xa 


o/  Q/?nyi, 


(k/e. 


^teUut  (k/eti /,^J? 


//_ 


cf 


7/ 


z'/^;' 


^. 


C^    ^a^/c  . 


yj^- 


SaiMita  S?. 


mmand^ 


^y    ^odd. 


-./4- 


W^^ei  (S^uia^y 


d/o     ^.3     /^. 


o/fec. 


^' 


o. 


Cyut?/ieat  . 


73 


o/M 


'ale/ia. 


/4 


'2/. 


/^V.    „  o/(^/<^  ^/^eeje /^, 


cf 


^/ 


/^J' 


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^^ 


^^ 


44 


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52 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


(94i^^  ^ozd,    ^eAaat^   ^S,  /^^. 


/ 


s 


©^a/4an  (^/i/r^. 


f. 


q7o  ^  ma.  o/^  (S^mcny @  .O^^h 

,,      ^O  aa^na  o/  '^c/c'nM^l e?/Vi 

„     ^<^  «^.   o/  ^/^uc£tofy^at. 04 

„     /i'V,  <^.  o/^oa/i 07'k 

f^, 


My   ^^/ 


^Z, 


//- 


(£^0   ^a^4. 


t. 


fS. 


4 


^€, 


fp. 


d/o  §  /d>.  o/^/c/  ^/^^ @  ./J^^ 

„       4    Q^^^fc^^i'f    cJ^  Q!7l\u/i. .0^0% 

,,     }i  ^.   o^  '^cnn.a/fion 4^ 

,,     f  ^a^l  0/  C^ai.cna 

2ir 


/^/uafn  .^endon. 


'z. 

dTo  4^  ^.  o/(Maicd. ®  .0§ 

„      "/  ^la^i  of  ^~^^^u^^c/^e _ 

,,     /  €/^.  o/^  ^^Jwfi^^  ^noc<>ut^.. 

„     "fO  UAO.  0/  J^j^^nec^  (Z/uaai. 


/«f 


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PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


53 


GA^en.   ^.4   (MA 


ztiazu  Jl^,   fS"^^, 


My    ^.^/ 


'€on. 


.^J. 


^z. 


^me.J   ^aez^an. 


^O   e.^.^..    /©^44^ ^    ^^^^ 

"     ^         "  Of   ^c'n^^i, ^^ 

„  ^x  ^.  0/ Mu,^y 1.3""""""" ^j5 


/^ 


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^n. 


t/n&/i  . 


<^o  S%   /^.  o/(^u^ 
"     7        ..      o^  ^tf^adeJ  (^^^i y^,, 

J{?y^ 

/^ 


^z. 


.@  .^4 


^       .,      cf  .^^u^tel. 


J'cf. 


Sc/tiia^  (^/4b 


9 


7t€, 


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.,     ^  «^.  o^  Mu^/i,i ^   I 

"^4     .,    o^  S^^ui 

,,      />i  aox^/t  0/ S'a^ii .Q 


^    ^a^4. 


y. 


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54 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH 


6 


e//euA  ^^   (^e^zuaz^  J^^  /c^^. 


J* 


i^^ 


C^. 


(^o  Syi  /^J.   o/    Suiauec^  &r(iaul 


^  OX:   a/  Q4ic^fncaj ^^^^ 


©yf^a/^n  (^ 


^mam. 


'z. 


//       /a     // 


q/o  /  ^.  o/  (S^oacaU>7ic 

y^   ,,     o/ ^leant  o/ Q>^uUal <^  .'^O 

/>i  X.  o/q%/-(?%^ ^^ 

,,     S%     .      o/Mc.^r^J /^ 

,/      ^y*     .,      o/  OT/fno?ic/i> ^'=^ 

O  ^/  ^^M^.         /c^M 

f       ^  ft 


o^fea. 


44 


jssi 


0(? 


cf   ^7 


t?^H 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


55 


',   auo    o/ 


/ 


c^. 


Q€?n^.   ^a^^  &7t  nunc/. 

.,       ^c/6  M^ce^aU^ 

,,       ..^auzTiceJ  </u^  u^ 


Q^nt^.   ^c/^  M^yaU^. 


(^o^a€  wmoutt^  o^  .^^e^xouiced 

/*  00         i^  t^z^uz^^^u^f 


0»  00 


/ 

... 

' 

•  •• 

if 


Iff" 


SINGLS    ENTRY. 


LEDGEE 


SECOND   FORM.  — SECOND    SET, 


I!     i 


58 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


©€. 


.^e^n^^n,    'yf^i/il^a'm 


4 


STTtmoruf,    SduHilc^ 


S 
4 


S^i^^uH^U    'Wu/^^ ^ 


^nM,  ^aTJtea 


tiH>on,    ^/arU^/. ^ 

UAi^ncc,    ^nai^ '^ 


G^n/y,    ""m/^ntS^. ^ 

(0//i^u'<^n,    ^4al^^ ^ 


^ 


j^h4ck  Mo/^u ^ 

.  -       <^ 

"  (29^«<?,    0(/uMZic/. ^ 

(Muucn,   Q4^a^/ia^n ^ 

SAuniun,   ^^^^^oi^ 


^- 


?!.!■: 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


59 


^We//^m    (^  Q£anj^. 


i. 


/,%?. 


„      ^a^/t. 


/ 


S2^^ 


// 


/ 


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I 


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// 


// 


^r^£(? 


^^ 


After  the  gain  is  ascertained,  the  portion  due  to  each  partner  is  carried  to  liis  credit. 


'^. 


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6'' 


at 


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tf,    7te^ 


J^ 


tfi 


^^4o 


^r^4^ 


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»^ 


'^. 


ante 


et   c^zfa 


atij^wn. 


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MMltaaiilMUMAdaM 


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60 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


^. 


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(£/o  .^0a^7tcfi 


/ 


(£/o  ,^00^710^. 


^. 


/ 

<^4 


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Q^^i.      /  S^o  .^ad^nce. 


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2 


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44 


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PRACTICAL    BOOK-KEEPING    FOR   YOUTH. 


^:2J^. 


^ 


qTo    ^auyd. 


^y  Ma^^^^Tice. 


*  See  Charles  Lawrence's  aooount. 


^^dat^d  c^zfatiAzence. 


S 


ir^2 


4^ 


^y  Ma^nce. 


61 


i. 


My  Ma.d,^tce 

7^ 

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44 
44 

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cfcf 


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9 


4§ 


There  is  a  closing  line  drawn  under  the  above  $192.48,  because  the  payment  of  February  9th  squared  the  account,  and  we 
should  never  allow  an  old  settled  account  to  get  mixed  with  the  new  account. 


£ 


' 


<s^^. 


4 

2S 


(£/o  ^^^^cicnaftc^taa... 


(^/o  Mu^^ 


/c^'. 

i* 

4. 

0(? 

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/ 

^ 

^ 
^ 

^ 

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PRACTICAL    BOOK-KEEPING    FOB    YOUTH. 


^. 


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a. 


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MEMORANDA  OF  TRANSACTIONS 


TO  BE  RECORDED  LIKE 


ACCOUNTS  IN 


SMITH  AND  MARTIN'S  DAY-BOOK, 


SINGLE  ENTRY— SECOND  FORM— SECOND  SET. 


SECOND    FORM.— THIRD  SET, 


SINGLE  ENTRY. 


MEMOKANDA 


FOR 


DAY-BOOK. 


-♦-•-•- 


SECOND  FORM.-THIRD  SET. 

Books  required,  Oash-Book,  Day-Book,  and  Ledger. 

T.„    1      Commenced  Business  with  Cash  on  hand,  $2,000;  Merchandise,  $1,200.-Thoma8 
Jan.  l--^"""'"?"?^^^^"'    ..Q.    .^,„„  Bond  S250 ;  Clement  Dunn  $164.20;  and  Edward 
F^tS^S   %orGeoiH^^^^^^^  *200;  Luther  Ma«h  $42.16 ;  and 

^  in!  ^1^.0  Cht  of  Luther  Marsh  4  pieces  of  Cassimere,  each  piece  22  yds.,  @  $2.25 
S'ld  1  1  MusUn^t  pie;  eleh  ^0  yds.,  @  lOc;  10  pieces  Delaine,  ea.h  40  yds.,  @  25c  ; 
?o  ^  '  -RnTnf  r«l  75-  and  6  pieces  Broadcloth,  each  30  yds.,  @  $3.00.-Paid  Luther  Marsh 
SsfseSoS  of  S'OrtonMdse.  valued  at  $800.-Paid  Neal  Orton  Cash  $400,  and  a. 
Cash,  $boO.     uot.  01  ^^J  j^.     _g  ,^  Sundries  to  Ira  Jenmngs,  to  the  amt.  of 

signed  my  «'-"", '«^'"^^f,''^^fj7_s;d  %Zrn^  Smith  G  yds.  Muslin,  @  12c.;  2i  yds.  Broad- 
S  '  il4tfl2';rMainr@  sac'^^Sold  Aaron  Bond  5^  yds.  Cassimere,  @  $3  25 ;  4i  yd. 
ciom,  (oi  ^-t.v/v ?  -^  ,  .  Tir  T  tn  ,rria  rri^^9Xo  '  and  received  from  Imn,  Cash,  ^75. — boia 
BroadeloJ.,  @  $3.80  ;  1  P-  M-lm  ^J  d^^  ^^^^^  ^.^  ;  3  ^.,,.  e^ssimere,  @  $3.10  ; 
Edward  Fowler  10  yd.,  bilk,  @  V..DU    t  825.-Kcc'd  of  Clement 

l^'^^iT'^TGLtTifJ^r^^^^^^  the  amt.  of'$550.1«,  and  paid  him  on  acct 

nT^rl^T  S^^r-YMLLov  Marsh  Cash,  $572.  Sold  him  2  cases  Boots  each  12, 
Cash  $750.16.     Jan  j  5.     raw  i.m  ^jg        ^j^j^     ^nd  4  doz.  Umbrel- 

nings  28  yds.  Cabco  @  22c. ,  ^^ / J"  ^J^^^f ;"-  ®^y  ^.^  y.  Cash.  Jan.  9.-Sold  Neal  Orton 
ing,  @  $2.62i  ;  2  yds.  Cassimere,  @  ^^^^  '  f"^  fn  vdrMuslin  @  124c. ;  1  Hat,  @  $0.50 ;  1  pr. 

^b1- r$?5o®  roidVi^?Qtr2!i^^^^ 

l^t;?    Jan  m-Sold  Egbert  Starbnck  10  yds.  Delaine^@35c^  yds.  Cassimere,  @  $2.30. 


PKACTICAL   BOOK-KEEPING  FOR   YOUTH. 


07 


21-  yds.  Broadcloth,  @  $3.80 ;  1  pr.  Gloves,  $2.— Sold  Edward  Fowler  2  prs.  Boots,  @  $7.25  ;  3  prs. 
Shoes,  @  $4;  2  Umbrellas,  @  $2 ;  6  yds.  Broadcloth,  @  $3.90.  Jan.  12.— Sold  Clement  Dunn  IG 
yds.  Alpaca,  @  75c. ;  12  yds.  Delaine,  @  36c. ;  Trimmings,  $1.80  ;  and  rec'd  Cash,  $10.  Jan.  13. 
—Paid  Geo.  Hunter  $115.— Sold  Ira  Jennings  1  Hat,  $6.00  ;  2  prs.  Shoes,  @  $4.20 ;  1  pr.  Boots, 
$7.50 ;  20  yds.  Linen,  @  60c. ;  12  yds.  Mnslin,  @  15c. ;  2^  yds.  Broadcloth,  @  $4.20  ;  and  rec'd 
from  him.  Cash,  $50.  Jan.  14. — Sold  Luther  Marsh  1  doz.  Umbrellas,  @  $1.50 ;  1  piece  Calico, 
38  yds.  @  14c. ;  1  case  Boots,  12  prs.  @  $6.00.— Sold  Neal  Orton  3i  yds.  Ribbon,  @  80c. ;  1  pr. 
Gloves,  $1.80;  2  Handk'fs,  @  60c.;  2^  yds.  Cassimere,  @  $3.40;  2i  yds.  Broadcloth,  @  $4;  and 
rec'd  Cash,  $12.— Sold  Philip  Queen  2  yds.  Silk,  @  $1 ;  2  yds.  Ribbon,  @  $1.12  ;  64  yds.  Calico,  m 
15c. ;  and  32  yds.  Muslin,  @  10c.  Jan'y  16.— Sold  Robert  Starbuck  20  yds.  Calico,  @  12c. ;  10 
lbs.  Batting,  @  22c. ;  5  lbs.  Cotton  Yarn,  38c. ;  20  yds.  Calico,  @  18c. ;  2  prs.  Gloves,  @  $1.80. 
Jan.  20. — Sold  Aaron  iJond  1  Yest  Pattern,  $5.00  ;  S^  yds.  Broadcloth,  @  $3.75  ;  and  rec'd  Cash, 
$125.— Sold  Clement  Dunn  6  Hdkfs.,  @  40c. ;  8  prs.  Drawers,  @  $1.60 ;  8  pre.  Stockings,  @  45c. ; 
1  Hat,  $6.50 ;  2  prs.  Shoes,  @  $3.60.  Jan.  21.— Sold  Edward  Fowler  6  yds.  Merino,  @  $1.25 ;  14 
yds.  Silk,  @  $2.00 ;  4  yds.  Satin,  @  $3  ;  1  Umbrella,  @  $2.50 ;  and  rec'd  Cash,  $48.— Paid  Geo. 
Hunter  $100.  Jan.  23.— Sold  Ira  Jennings  5  yds.  Silk  Serge,  @  $1.20  ;  14  yds.  Delaine,  @  36c. ; 
20  yds.  Book  Muslin,  @  8c.;  25  yds.  Sheeting,  @  24c.;  28  yds.  Calico,  @  12ic.;  2^  yds.  Broad- 
cloth, @  $4.00.— Sold  Luther  Marsh  6  yds.  Yelvet,  @  $5.25 ;  4  yds.  Yesting,  @  $2.25  ;  6  yds.  Cas- 
simere, @  $3.40 ;  8  yds.  Canvas,  @  15c. ;  and  rec'd  Cash,  $12.— Paid  Neal  Orton  Cash,  $75.  Sold 
him  3  yds.  Broadcloth,  @  $4.10 ;  2J  yds.  Cassimere,  @  $3.28 ;  8  skeins  Silk,  @  3c. ;  5  spools 
Thread,'  @  8c.  Jan.  24.— Sold  Philip  Queen  1  Knife,  $1.25  ;  2  Brushes,  @  60c. ;  2  Razors,  @ 
$1.50 ;  1  Dressing  Case,  $8.00 ;  12  yds.  Muslin,  @  20c. ;  5  spools  Thread,  @  8c. ;  2  papers  Pins,  @ 
8c. ;  1  paper  Needles,  6c. ;  12  Hdkfs.,  @  60c. ;  2i  yds.  Broadcloth,  @  $4.— Rec'd  Cash  of  Philip 
Queen,  $40.  Sold  Robt.  Starbuck  Cloth  for  Yest,  $4 ;  do.  for  Coat,  $10 ;  do.  for  Pants,  $6 ;  1 
Hat,  $6.50 ;  1  pr.  Boots,  $7.50 ;  Underclothing,  $6 ;  and  rec'd  Cash,  $36.  Jan'y  25.— Sold  Aaron 
Bond  12  yds.  Bed-Ticking,  @  20c. ;  40  yds.  Sheeting,  @  25c. ;  4  Blankets,  @  $1.50 ;  2  prs.  Shoes, 
@  $3.50.  Sold  Clement  Dunn  40  yds.  Calico,  @  13c. ;  4  yds.  Yelvet,  @  $5  ;  6  yds.  Silk  Serge,  @ 
$1.20 ;  14  yds.  line  Muslin,  @  50c. ;  rec'd  Cash,  $50.— Sold  Edward  Fowler  1  case  Boots,  12  prs., 
@  $5  ;  1  case  Shoes,  24  prs.,  @  $3 ;  bot.  of  him,  1  piece  Broadcloth,  35  yds.,  @  $3.  Jan.  26. — Sold 
Thos.  Smith  20  yds.  Muslin,  @  18c. ;  5  yds.  Broadcloth,  @  $4.20 ;  and  rec'd  Cash,  $60.— Sold 
Luther  Marsh  Domestic  Goods,  $16 ;  1  pr.  Boots,  $6.50 ;  and  rec'd  Cash,  ^45.  Jan.  27.— Sold 
Clement  Dunn  Dressing  Case,  with  Razors,  etc.,  for  $14 ;  Muslin,  $2  ;  Linen,  $2  ;  Hosiery,  $2.50 ; 
materials  for  Coat,  $17 ;  do.  for  Yest,  $5 ;  and  received  $30.— Sold  Philip  Queen  1  pr.  Shoes, 
$3.50 ;  1  Hat,  $6.50 ;  Yesting,  $5.  Jan'y  28.— Rec'd  Cash  of  Aaron  Bond,  $60.— Sold  Edward 
Fowler  4  doz.  Umbrellas,  @  $16  ;  8  prs.  Boots,  @  $5  ;  and  rec'd  of  him.  Cash,  $50,  and  his  Note  @ 
6  mos.,  with  int.  fr.  date.  Jan'y  31. — Sold  Robert  Starbuck  10  yds.  Muslin,  @  25c.,  and  rec'd  of 
him.  Cash,  $40.— Sold  Ira  Jennings  Sundries,  $6.85  ;  and  rec'd  of  him,  Cash,  $50.— Paid  Neal  Or- 
ton, $107.82.  Pupil  will  make  out  Balance  Sheet. — Have  on  hand,  Mdse.  valued  at  $2,400,  and 
Cash  ?     Bills  Rec.  ?     Accts.  ?     Have  gained  $533.00. 


ti 


SINGLE    ENTR  K. 


Second  Fohm— Fourth  Set.— Books  required  :  Cash-Book,  Day-Book,  and  Ledger,  besides  a 
Form  and  Memorandum-Book.  It  is  expected  of  the  pupil,  not  that  he  shall  merely  journalize 
and  post  the  following  accounts,  but  that  he  shall  make  formal  bills  of  all  merchandise  sold,  write 
proper  receipts  for  moneys  paid  or  received,  draw  up  forms  to  represent  bills  payable  and  bills 
receivable  as  well  as  such  as  shall  answer  to  the  drains  and  orders  referred  to,  and  that  he  shall 
make  all  the  calculations  in  interest  and  discount  which  the  subject  matter  may  demand.  The 
following  statements  of  business  transactions  have,  intentionally,  been  varied  in  form ;  and,  for 
the  sake  of  compactness  and  conciseness,  all  words  clearly  implied  have  been  omitted.  It  is 
thouo-ht  that  the  text-book  contains  the  necessary  forms  and  explanations,  those  printed  m  that 
part  of  the  volume  comprising  "  Double  Entry,"  being  quite  applicable  to  business  recorded  by 

Single  Entry. 

The  pupil  will  see  the  necessity  of  writing  up  the  accounts  of  the  set  precedmg  this,  and  ot 
making  out  a  complete  balance  sheet  before  commencing  this  set. 

The  following  Exercises  will  serve  as  well  for  practise  in  book-keeping  by  Double  Entry  as 

by  Single  Entry : 

PRACTICAL    EXERCISES.    See  p.  49. 

James  Youngblood  (representing  the  pupil)  and  John  Trueman  form  a  partnership.  James 
Youngblood  contributes  the  net  capital  represented  by  the  Business  recorded  in  Set  III.,  Single 
Entry'';  viz. :  Edward  Fowler's  note  for  $75  @  6  mos.,  with  interest ;  Cash,  $923.02 ;  Merchan- 
dise, $2,400 ;  ami  Acc'ts.  agt.  sundry  persons,  $379.47.     See  Set  III. 

John  Trueman  contributes  Cash,  $4,000.  The  lirm  agree  to  assume  a  note  drawn  in  favor  of 
Wm.  Veeder  by  Jno.  Trueman  for  $222.51,  due  Feb.  10,  18—. 

Feb.  1,  18—.  We  purchase  store  and  fixtures  for  Cash,  paying  $2,500 ;  buy  Hardware, 
$1,000,  and  pay  Cash,  $600,  and  our  joint  note  for  $400  @  3  mos.,  with  interest  in  favor  of  Wm. 
Naylor.  We  buy  invoice  of  Groceries,  amt.  $800,  and  pay  Cash,  $500,  and  our  joint  note  for 
$300  @  4  mos.,  without  interest  in  favor  of  Cook  and  Baker. 

Feb.  2.— Sold  Wm.  Veeder  Dry  Goods,  $100 ;  Hardware,  $25  ;  Groceries,  $15.  Sold  Kobert 
Starbruck  Hardware,  $75  ;  and  received  from  him  Cash  on  aect.  $25.  Sold  Neal  Orton  Gro- 
ceries, $50 ;  Dry  Goods,  $15  ;  Hardware,  $100  ;  and  received  Cash,  $125.00. 

Feb.  3.— Lent  Ira  Jennings  Cash  on  his  note  at  20  days  for  $200,  he  allowing  a  discount  of 
$2.  Sold  him  Groceries  amounting  to  $76.  Sold  Edward  Fowler  Hardware,  $85,  and  Dry 
Goods,  $100,  and  received  on  acct.  $120.  Sold  Aaron  Bond,  2  Axes,  @  $1.20 ;  3  Chisels,  @ 
75c. ;  2  Saws,  @  $1.00 ;  4  yds.  Broadcloth,  @  $3.75 ;  10  yds.  Canton  Flannel,  @  25c. ;  25  lbs. 
Crushed  Sugar,  @  16c. ;  20  lbs.  Coffee,  @  30c.,  and  received  from  him  Cash  in  full  of  all  demands. 


The  pupil  will  make  out  receipted  bill.  The  bal.  on  old  acct.  was  $71.91.  The  pupil  might 
compose  bills  to  represent  the  preceding  accounts. 

Feb.  4. — James  Youngblood  takes  on  private  acct.  Groceries,  $60,  and  Dry  Goods,  $110. 
Sold  Thomas  Smith  10  yds.  CaHco,  @  12c. ;  5  yds.  Kibbon,  @  20c. ;  20  yds.  Sheeting,  @  10c. ; 
5  yds.  Broadcloth,  @  $3.00 ;  Keceived  Cash,  $19.20.  The  pupil  ought  to  write  out  complete  bill. 
Sold  Philip  Queen  10  yds.  Broadcloth,  @  $3.00 ;  6  prs.  Kid  Gloves,  @  $1.75 ;  15  yds.  Muslin, 
@  25c. ;  20  yds.  Calico,  @  12c. ;  30  yds.  Toweling,  @  33c. ;  50  yds.  Ribbon,  @  13c.,  and  received 
of  him  Cash  in  full ;  the  balance  of  old  acct.  was  $53.21. 

Feb.  7.— Sold  Luther  Marsh  Hardware,  $82 ;  Groceries,  $16.72,  and  Dry  Goods,  $28.  Sold 
George  Huntei*  1  bbl.  Sugar,  230  lbs.,  @  18c, ;  1  sack  Salt,  4  t>ush.,  @  $1.20 ;  1  bag  Coffee,  58 
lbs.,  @  32c.,  and  Spices  valued  @  $42.16.  Eeceived  in  payment  his  note  drawn  in  favor  of  Edwin 
Cronk,  and  indorsed  by  said  Cronk,  at  90  days,  payable  @  Atlantic  National  Bank,  Brookl\Ti. 
Face  of  the  note  to  represent  such  a  sum  that  the  proceeds  shall  pay  the  above  bill  when  the  note 
is  discounted  at  a  bank.     The  pupil  will  draw  such  a  note. 

Feb.  8. — Cashed  George  Hunter's  note  of  the  7th  inst.  John  Trueman  takes  on  private  acct. 
Dry  Goods,  $60 ;  Hardware,  $10,  and  Groceries,  $72.  Sold  Clement  Dunn  Groceries,  $80.  The 
pupil  is  requested  to  compose  a  bill  of  Groceries  for  that  amount.  Wm.  Yeeder  sells  the  firm  a 
Horse  and  Wagon,  valued  @  $200,  and  buys  Hardware,  $70 ;  Dry  Goods,  $24 ;  and  Groceries, 
$16,  and  receives  Cash  to  balance  this  transaction. 

Feb.  9.— Sold  Thomas  Smith  for  Cash,  196  lbs.  Flour,  @  5c. ;  1  bbl.  Sugar,  242  lbs.,  @  15c. ; 
1  hhd.  Molasses,  110  gals.,  @  60c. 

Feb.  10. — Sold  Robt.  Starbruck  Groceries  amtg.  to  $400,  and  received  in  payt.  Cash,  $200, 
and  his  note  drawn  to  order  of  PhiHp  Queen,  indorsed  by  said  Queen,  @  3  mos.,  payable  @ 
Mechanics'  Bank,  Brooklyn ;  the  proceeds  of  the  note,  when  discounted,  being  $200.  The  pupil 
will  ascertain  the  face  of  the  note,  and  draw  it  according  to  the  memoranda.  Sold  Philip  Queen 
Groceries,  $29,  and  received  from  him  Cash  on  acct.,  $20.  Sold  l^eal  Orton  Hardware,  $75,  and 
Groceries,  $84. 

Feb.  13.— Sold  .Luther  Marsh  Dry  Goods,  $100 ;  received  Cash,  $85.  Sold  Ira  Jennings 
goods  as  follows:  1  sack  Salt,  $4.00;  1  bag  Coffee,  110  lbs.,  @  18c.,  $19.80;  1  hhd.  Sugar,  900 
lbs.,  @  6c.,  $54.00,  and  1  bbl.  Molasses,  $18,  and  received  his  order  on  Wm.  Yeeder  in  payment. 

Feb.  14. — Sold  Geo.  Hunter  2  tierces  Rice,  in  all  1,000  lbs.,  @  lie;  1  bag  Coffee,  150  lbs.,  @ 
36c. ;  1  hhd.  Havana  Sugar,  1970  lbs.,  @  12c.,  and  received  payt.  in  Cash.  The  pupil  will  make 
out  receipted  bill. 

Feb.  15.— Sold  Edward  Fowler  25  lbs.  Tea,  @  $1.12 ;  25  lbs.  Lard,  @  30c.,  and  10  lbs.  Rice, 
@  10c.  Sold  Clement  Dunn  10  lbs.  Coffee  @  38c.;  10  lbs.  Tea  @  $1.00;  50  lbs  Rice  @  14c.,  and 
received  Cash  for  the  amt. 

Feb.  16.— Sold  Aaron  Bond  Hardware  $60  ;  Dry  Goods  $15.  Sold  Thomas  Smith  3  gals. 
Molasses  @  $1.00 ;  2000  lbs.  Sugar  @  12c.,  and  150  lbs.  Coffee  @  32c.,  and  received  from  him  Cash, 
$75. 


W 


.t 


B; 


70 


PRACTICAL  BOOK-KEEPING  FOR  YOUTH. 


Feb.  18.— Sold  Philip  Queen  on  his  note®  30  days,  1  hhd.  Sugar,  1,050  lbs.,  @  12c. ;  5  chests 
of  Tea,  each  100  lbs.,  @  $1.00.  Discounted  this  note  @  Bank,  receiving  Cash.  The  pupil  will 
ascertain  the  present  worth  of  said  note,  and  debit  Cash  with  the  same. 

Feb.  20.— Sold  Luther  Marsh  on  acct.,  200  lbs.  Rio  Coffee,  @  32c. ;  150  lbs.  Sugar,  @  12c. ; 
50  lbs.  Tea,  @  $  1.00 ;  80  gals.  Molasses,  @  90c.  Sold  George  Hunter  bill  of  Hardware,  $20. 
The  pupil  should  make  out  a  bill  for  above  amt.  Sold  Clement  Dunn  10  lbs.  Coffee,  @  40c. ;  2 
lbs.  Pepper,  @  $2.75  ;  2  lbs.  Cinnamon,  @  $3.50 ;  2  lbs.  Cloves,  @  $2.00,  and  reed.  payt.  m  Cash. 
John  Trueman  took  on  private  acct.  Groceries,  $50,  and  Dry  Goods,  $94. 

Feb.  23.— James  Youngblood  received  on  private  acct.  Cash,  $100,  and  Dry  Goods,  $75. 

Feb.  24.— Sold  Aaron  Bond  Dry  Goods  amounting  to  $250,  and  received  his  draft  at  sight  on 
Clement  Dunn  for  $250.     This  draft  was  duly  paid.  '3       ., 

Feb  25  — Bot.  Invoice  of  Dry  Goods  amounting  to  $1,000  of  Osgood  &  Co.,  and  paid  our 
draft  on  Thomas  King  &  Co.,  of  New  York,  @  10  days  after  sight,  the  said  draft  being  accepted 
Sold  Clement  Dunn  Dry  Goods  amounting  to  $132.    Ira  Jennings  took  up  his  note  of  the  3d 
inst.,  paid  Cash,  $150,  and  his  draft  on  Neal  Orton  @  10  days  after  sight  for  the  remamder,  which 

draft  was  duly  accepted.  ,  j  i     i» 

Feb  27  —Edward  Fowler  paid  the  bal.  due  on  his  acct.  His  note  is  not  yet  due,  and,  ot 
course,  that  is  not  included.  Sold  Geo.  Hunter  Hardware,  $80,  and  received  his  order  on  Thos 
Scott  for  a  sum  sufficient  to  balance  his  acct.  The  order  was  presented  and  payment  made  in  Cash 
this  day.  Sold  Ira  Jennings  Hardware,  $90 ;  Groceries,  $50.  Received  from  him  his  note  for 
$100  @  60  days,  without  interest,  and  Cash  sufficient  to  balance  his  account ;  viz. :  Cash,  $41.22. 
(The  pupil  will  ascertain  Ira  Jennings's  balance,  subtract  from  this  the  present  worth  of  the  note, 
Bank  Discount,  and  thus  ascertain  the  Cash,  as  above  required). 

Feb  28  —Received  Cash  on  Ira  Jennings's  note  of  the  27th  inst.,  $98.78. 

We  are  offered  Cash  for  Store  and  Fixtures,  $2,800.  Our  Horse  and  Wagon  are  worth  $220. 
We  have  Mdse.  on  hand  worth  $2,300.  We  have  paid  out  Cash  for  petty  expenses,  $16 ;  for  freights, 
$96  •  for  clerk  hire,  $60.  In  ascertaining  the  net  gain,  the  goods  and  Cash  taken  by  partners  are  not 
to  be  counted  as  losses  or  expenses.  It  will  be  found,  on  making  out  a  Balance  Sheet,  that  James 
Youngblood  is  entitled  to  his  original  investment  and  to  $424.60,  and  John  Trueman  to  his 
investment,  and  also  to  $483.60 ;  the  net  profits  for  the  month  being  $1,539.21.    ^ 

N  B  -The  pupil  should  be  directed  how  to  avail  himself  of  the  full  information  given  under 
Double  Entry,  and  be  shown  how  fictitious  accts.,  such  as  Bills  Rec.  and  Bills  Payable  and  Mer- 
chandise, can  be  kept  as  well  as  Cash,  in  Single  Entry. 


DOUBLE    ENTRY. 


I>R  EF  AC  E. 


-•-•-•- 


k~ 


The  want  of  a  system  of  Book-keeping  by  Double  Entry,  which  should  be  adapted 
to  the  use  of  Common  Schools,  has  been  very  extensively  felt,  and  with  the  in- 
tention of  supplying  this  want  the  present  work  was  undertaken.  The  author 
does  not  claim  to  have  discovered  any  principle  in  the  science  that  is  new,  but  he 
does  claim  to  have  so  simplified  the  subject,  by  the  manner  of  presenting  it,  as  to 
place  a  knowledge  of  its  principles  within  the  attainment  of  many  who,  in  the  form 
in  which  those  principles  are  presented  in  works  now  in  use,  have  failed  of  deriving 
from  them  that  practical  benefit  which  is  needed  by  those  who  have  not  the  means  of 
acquiring  a  higher  education. 

The  improvement  in  this  treatise  consists  in  the  manner  in  which  the  subject  is 
explained,  by  asking  questions,  giving  the  answers,  and  having  the  entries  of  all 
concerned  in  it  given ;  also,  by  giving  the  forms  of  Receivable  and  Payable  Bills, 
Drafts,  Bills  of  Merchandise  bought  and  sold,  Receipts  for  Cash  paid  out  and  received, 
Orders,  etc.,  and  having  the  same  numbered  to  correspond  with  the  transaction  as 
specified  in  the  Day,  Bills  Receivable,  and  Payable  Books,  thus  giving  the  beginner 
the  reasons  and  form  of  every  thing  connected  with  each  transaction  as  it  would 
occur  in  actual  business. 

The  author  submits  this  work  to  the  impartial  judgement  of  an  intelligent  public, 
having  full  confidence  that  whatever  advantages  it  may  possess  will  be  duly  appre- 
ciated by  the  friends  of  Education  and  of  the  Common  School 

Burlington,  Vt.,  January  1,  1859. 


i 

I 


1 


6^;-- 


CONTENTS  OF  DOUBLE  ENTRY. 


^•4 


Introduction f 

To  THE  Pupil 9 

Manner  of  Recitation 9 

Explanation  op  Figures,  &c 10 

Rules 10 

Books  Used  in  this  Method , H 

Explanation  on  Opening  the  Books H 

Transaction  and  Explanation  Book 15 

Dat-Book — Original  Entries 36 

Entries  for  Closing  the  Books,  &o 47 

Entries  for  Re-opening  or  a  Continuation,  &o 49 

Index  to  Ledger 53 

Ledger 53 

Cash-Book 62 

Bills  Receivable  Book 66 

Bills  Payable  Book 70 

Trial  Balance — First  Form 72 

**  "  Second  Form 78 

Explanation  of  Trial  Balances 73 

Inventory  Book 74 

Forms  of  Bills  and  Notes  Receivable 75 

Forms  of  Bills  and  Notes  Payable 78 

Forms  of  Drafts 81 

Forms  of  Orders 81 

Forms  of  Cash  Receipts 82 

Forms  of  Bills  of  Merchandise 84 

Remarks  on  Closing  the  Ledger 91 

Report,  or  Statement 92 

Notes  to  the  Transaction  and  Explanation  Book 94 

Examples  for  Practice 97 

Mercantile  Forms,  &o 99 


INTRODUCTION. 


«  ^i 


L^ 


1 


Book-kp:epino  is  the  art  of  recording  Mercantile  transactions  in  a  regular  and  systematic 
manner.  The  system  of  Book-keeping  by  Double  Entry  is  that  in  which  every  entry  has  both 
a  debit  and  credit,  which  are  equal  in  amount. 

The  difference  between  Single  Entry  and  Double  Entry  Book-keeping  is  as  follows,  viz. : 
In  Single  Entry^  each  transaction  has  but  one  account  opened  in  the  Ledger,  and  the 
amount  is  entered  to  the  debtor  or  credit  side,  as  the  case  may  be ;  while  in  Double  Entry,  the 
same  amount  is  entered  in  the  Ledger  under  two  different  accounts,  one  to  the  debtor  and  the 
other  to  the  credit  side. 

Example. — Should  I  sell  Edmund  Burke  a  bill  of  merchandise,  amounting  to  $1400,  which 
he  does  not  pay  for  at  the  time,  in  Single  Entry  I  simpl}'-  open  an  account  with  him  in  the 
Ledger,  and  charge  him  to  the  same  amount ;  but  in  Double  Entry,  besides  making  Edmund 
Burke  debtor,  I  also  open  an  account  with  Merchandise,  which  is  credited  with  the  same 
amount. 

ILLUSTRATION. 


^ 


^. 


{Ledger.) 


/ 


Q^o  (^^octc/uinatae . 


^. 


I. 


{Ledger^ 


/ 


q7o  (^/^ic/uinc/ca^ . 


'I, 


(Ledger^ 


S(/mu^?ta  £Sa}iAe. — {Single  Entry.) 


€. 


/4<^6? 


0{? 


Sa?nuna  J^uTne. — {Double  Entry.) 


/4OO 


6^0 


©u^zcnandide. — {Double  Entry ^ 


H. 


/ 


'^y    Su??tt4^/tc/  .^^UlUC.. 


/400 


00 


i 


INTRODUCTION 


-*—— 


Book-keeping  is  the  art  of  recording  Mercantile  transactions  in  a  regular  and  systematic 
manner.  The  system  of  Book-keeping  by  Double  Entry  is  that  in  which  every  entry  has  both 
a  debit  and  credit,  which  are  equal  in  amount. 

The  difference  between  Single  Entry  and  Double  Entry  Book-keeping  is  as  follows,  viz. : 
In  Single  Entry^  each  transaction  has  but  one  account  opened  in  the  Ledger,  and  the 
amount  is  entered  to  the  debtor  or  credit  side,  as  the  case  may  be ;  while  in  Double  Entry^  the 
same  amount  is  entered  in  the  Ledger  under  two  different  accounts,  one  to  the  debtor  and  the 
other  to  the  credit  side. 

Example. — Should  I  sell  Edmund  Burke  a  bill  of  merchandise,  amounting  to  $1400,  which 
he  does  not  pay  for  at  the  time,  in  Single  Entry  I  simply  open  an  account  with  him  in  the 
Ledger,  and  charge  him  to  the  same  amount ;  but  in  Double  Entry,  besides  making  Edmund 
Burke  debtor,  I  also  open  an  account  with  Merchandise,  which  is  credited  with  the  same 
amount. 

ILLUSTRATION. 


^/y. 


{Ledger.) 


Sc^mu^na  J^OaiAe. — [Single  Entry.) 


Ck 


'^. 


(S/o  <^^i^tc/ui?ic/cae . 


/4^^ 


0{? 


^. 


I, 


{Ledger^ 


Sa?nuna  it^azne. — [Double  Entry.) 


Jun 


/ 


<2>v   (Q^^^icnafic/cOf . 


y4Cfo 


{?^ 


't. 


(Ledger^ 


(^uezcnam/e^ie. — [Double  Entry ^ 


^z. 


/ 


-^y  S'c/nnc/u/  ,^ul^.. 


/40(? 


oo 


IRREGULAR  PAGINATION 


nUH 


8 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


Tlie  Ledger  is  the  most  important  of  all  the  account  books,  containing  a  condensed  state- 
ment of  every  transaction,  arranged  under  their  proper  heads,  called  accounts,  and  in  which 
are  to  be  found  the  principles  of  Double  Entry  Book-keeping.  Therefore  it  is  not  necessary 
that  a  transaction  should  be  entered  in  the  Day-book,  and  from  thence  be  journalized,  or  that 
it  should  be  expressed  and  entered  in  the  Day-book  in  what  is  called  ^  jmimal  fonn,  combining 
the  Day-book  and  Journal,  in  order  to  know  hoio  it  ought  or  is  to  be  posted  in  the  Ledger; 
but  a  proper  undei-standing  of  the  Ledger  is  essential,  in  order  to  journalize  a  transaction,  to 
analyze  it,  and  give  to  each  part  of  the  account  its  proper  title  under  which  it  is  to  be  made 
in  the  Ledger. 

ILLUSTRATION.  — No.    1. 

If  I  sell  James  Murdock  a  barrel  of  Flour,  which  he  does  not  pay  for  at  the  time,  it  is  not 
necessary  that  the  tninsactlon  should  be  disposed  of  in  the  following  manner,  in  order  to  know 
how  it  should  be  posted  in  the  Ledger,  viz. : 

Day-book — Jaines  Murdoch^  Dr, 

%      To  1  hhl.  Flour,  ® 
^owxn'iil— James  Murdoch  Dr.  to  Merchandise, 

But  knowing  that  every  debit  nmst  have  a  corresponding  credit,  we  see  in  i\iQ  first  form, 
without  its  being  journalized,  that  James  Murdock  is  to  be  made  debtor  in  the  Ledger  for  the 
amount  of  his  indebtedness  to  me,  it  also  being  agreeable  with  Rule  2,  because  he  is  the 
receiver;  and  we  also  see,  agreeable  to  Rule  2,  that  Merchandise  being  the  thing  delivered,  is 
to  be  credited  in  the  Ledger  for  the  same  amount  sold  or  disposed  of. 

But  in  this  work  I  have  adopted  the  system  of  combining  the  Day-book  and  Journal, 
giving  the  particulars  of  the  transaction  and  Ledger  titles  in  the  same  entry,  believing  it  to 
be  the  most  desirable  form,  and  one  which  the  beginner  will  most  easily  understand.  Below  is 
form  of  Illustration  No.  1,  as  carried  out  in  this  work  :  • 

James  Murdock  Dr.  to  Merchandise, 

For  1  bbl.  Flour,  ® 

Note  -We  say  that  property  is  dehU>r  for  the  amount  purchased,  considering  that  it  actually  mot*  us  for  the  amount 
paid  out,  and  ought  to  return  to  us  in  some  way  its  value  or  cost ;  and  when  it  is  disposed  of,  wo  mal^e  it  crtdxUyr, 
considering  that  it  has  paid  its  debt.     Hence  we  say  property  is  dehU^  or  credits,  the  same  as  a  pcrso.i. 


TO    THE    PUPIL. 

From  the  statement  given  in  the  Transaction  and  Explanation  Book,  you  are  to  make  the 
entry  mfull,  by  carrying  it  in  the  mind,  or  writing  it  down  on  slate  or  paper;  then  turn  to  the 
Day-book,  and  see  if  the  work  has  been  done  correctly ;  if  so,  proceed  to  make  the  entry  in 
the  Day-book.  The  next  operation  is  to  make  the  entry  or  statement  of  the  other  side  of  the 
transaction,  and  of  all  concerned  in  it,  in  the  same  manner  in  which  t\iQ first  was  made;  then 
turn  to  the  Bills  Receivable  and  Payable  Books  in  order  to  see  how  the  Notes  and  Drafts  are 
disposed  of  there,  and  to  the  Cash-book  to  see  how  the  Cash  is  entered,  and  to  i\\Q  forms  of 
Bills  Merchandise,  bought  or  sold,  and  also  to  \\\q  forms  of  all  Notes,  Drafts,  Cash  Receipts, 
and  Orders,  to  see  how  they  are  made  out,  and  follow  every  thing  connected  with  each  trans- 
action throughout  in  this  manner. 


!it^ 


MANNER    OF    RECITATION. 

The  teacher  is  to  read  the  statement,  as  given  in  the  Transaction  and  Explanation  Book, 
from  which  the  scholar  is  to  make  the  entry,  which,  if  done  correctly,  the  teacher  will  ask 
why  debit  and  why  credit,  anu  is  to  proceed  to  ask  all  the  questions  as  they  there  appear,  and 
the  scholar  is  required  to  give  the  answers  in  full  as  they  are  in  this  work. 

Should  there  appear  a  JSfote  or  Draft  given  or  received.  Bill  of  Merchandise  bought  or  sold. 
Cash  paid  out  or  received,  the  scholar  is  to  give  \kiQ  forms  in  full  of  all  that  appear,  in  order 
to  fully  understand  what  has  been  done ;  after  which,  the  teacher  can  turn  to  the  examples 
for  practice,  and  proceed  to  ask  such  questions  as  appear  proper,  and  can  present  new  trans- 
actions, etc.,  which  would  prove  both  interesting  and  usefuL 


ii 


EXPLANATIONS  OF  FIGURES  IN  THE  MARGIN  OF  THE  DAY-BOOK  AND  LEDGEK. 


The  figures  in  the  margin,  at  the  left-hand  side  in  the  Day-book,  give  the  pages  in  the 
Ledger  to  which  the  accounts  have  been  posted.  Tliose  in  the  left-hand  column  give  the 
debtor  side,  and  those  in  the  right  the  credit,  as  they  appear  in  the  account. 

The  figures  in  the  Ledger,  in  the  columns  at  the  left  of  the  araounU,  debited  or  credited, 
refer  to  the  pages  in  the  Day-book. 


RULES. 

1.  Stock  is  crediUd  for  the  total  amount  of  property  invested,  and  d^Uted  for  the  total 
amount  of  debts;  and  each  account  showing  that  property  is  dAited,  and  each  account  showing 
that  indebtedness  is  credited. 

2.  Debit  whatever  receives  the  benelit,  be  it  ^perso^i  or  thiruf ;  which  is  either  the  receiver, 
or  the  thing  received.  Credit  whatever  confers  the  benefit,  be  it  apersm  or  thh^ ;  wliich  is 
either  the  deliverer,  or  the  thing  delivered. 

3.  Profit  and  Loss  is  debiUd  for  all  losses,  and  crediUd  for  all  gains;  and  the  account 
showing  the  loss  is  crediUd,  and  that  showing  the  gain  is  debited. 


BOOKS    USED    IN    THIS    METHOD 

Abe  the  Day-Book  and  Journal  combined,  in  which  all  business  transactions  are  recorded  at 
the  time  of  their  occurrence  (always  having  scrupulous  regard  to  date  throughout  the  whole), 
and  always  specifying  each  article  with  its  quantity,  price,  and  amount,  and  from  thence 
posted  to  the  Ledger. 

NoTK.-Many  merchants  use  a  Blotter,  in  which  they  first  enter  all  their  charges  and  credits,  and  afterwards  copy  the 
same  into  the  Journal.  The  author  does  not  forbid  the  use  of  the  Blotter,  although  it  is  not  regarded  aa  essential 
in  the  plan  of  this  work. 

Tlie  Cash-Book,  in  which  is  entered  all  cash  received  and  paid  out.  Bills  Receivable  and 
Bills  Payable,  each  used  as  memorandum  books,  showing  at  a  glance  the  number  and  amount 
of  Notes  due  from  you  to  others,  and  from  others  to  you,  and  when  they  become  due,  &c. 

The  Ledger  is  the  book  into  which  all  the  entries  from  the  Day-Book  are  disposed  of  in 
such  a  manner  as  to  exhibit  at  one  view  the  true  state  of  each  account 


EXPLANATION  ON  OPENING  THE  BOOKS. 

Fms-r— An  inventory  of  all  the  property  you  have  on  hand  (which  you  wish  to  invest  in 
business),  of  every  description,  must  be  taken ;  the  things  you  have  on  hand,  together  with  the 
persons  who  are  owing  you,  must  be  made  Dr.  to  Stock  (which  is  the  representative  of  the 
person  wliose  property  and  Drs.  they  are,  and  is  the  same,  in  eftect,  as  though  it  had  been 
made  Dr.  to  the  owner  under  his  proper  name),  that  is.  Merchandise,  Cash,  Notes,  <fec.,  are  to 
be  made  Dr.  to  Stock  for  their  separate  amounts,  and  for  which  Stock  would  be  credited  for 
the  total  amount ;  and  Stock  must  be  debited  for  all  tht^  sums  which  are  due  from  you  to 
others ;  and  the  several  persons  to  whom  you  are  indebted  are  to  be  credited  for  the  separate 
amount  due  them. 


TRANSACTION 


AND 


EXPLANATION    BOOK. 


■       --.:. y-.. 


"'''  -■<— .'.-^^r    .W-y-.^.-.^-^^^.    --,    -      -    ■     ^.—     , ■— .„_-„.^-    - 


PRACTICAL  BOOK-KEEPIiNG  FOR  YOUTH. 


(DOUBLE    ENTRY.) 


ana  (^^niu  (5^^uinncna  nouM  'm/u   G^Ko^  jf»l  u^O  c/o^iiJ. 


Q.  How  is  this  transaction  to  be  entered  in  the  Day-book  ? 

A.  See  Day-bftok,  p.  36. 

Q.  Why  debit  Cash,  Merchandise,  Bills  Receivable,  James 
Smith,  and  Cornelius  Whitman,  and  credit  Stock  ? 

A.  Because  each  of  those  accounts  represents  its  respective  amount 
of  property  invested,  and  Stock  the  total  amount  of  the  investment. 

Q.  Why  debit  Stock,  and  credit  Thomas  Chase,  Charles 
Smith  &  Co.,  and  Bills  Payable? 

A.  Because  Stock  shows  the  total  amount  of  indebtedness,  and 
each  of  those  accounts  shows  its  respective  at?w-unt  of  liabilities. — 
(Apply  Rule  No.  1.) 

Q.  On  which  side  of  the  Cash-book  is  the  1400  dollars  to  be 
entered  ? 

A.  Debtor  side. 

Q.  Why? 

A.  Because  it  is  the  amount  of  Cash  invested  in  bxmnea. 

Q.  What  is  the  form  of  the  400  dollar  note  given  by  Samuel 
Allen? 

A.  See  Bills  Receivable  Book,  p.  75. — (Note  A,  p.  94.) 

Q.  What  is  the  form  of  the  300  dollar  note  given  by  Samuel 
Bicef 


A.  See  Bills  Receivahle  Book,  p.  75. 

Q.  Why  are  these  two  notes  receivable  bills  on  my  parti 
(Note  B,  p.  94.) 

A.  Because  they  are  notes  due  from  others  to  m>e. 

Q.  What  is  the  form  of  the  630  dollar  note  given  to  Henry 
Manning  ? 

A.  See  BiUs  Payable  Book,  p.  78.— (Note  A,  p.  94.) 

Q.  Why  is  this  note  a  payable  bill  on  my  part  ? 

A.  Because  it  is  due  from  m«  to  another. 

Q.  What  is  the  net  amount  of  capital  invested  in  trade  f 

A.  4000  dollars. 

Q.  Why? 

A .  Beca  use  it  is  the  difference  between  Stock  credit  and  Stock  d^fiL 

Q.  What  is  meant  by  liabilities  1 

A.  D^'hts,  accounts  that  we  owe,  whether  notes  or  balances  against 
tis  in  account  with  others. 

Q.  What  is  meant  by  resources  ? 

A.  Property,  cash,  balances  due  from  others  in  account,  or  by 
note,  and  unsold  goods,  dtc. 

Q.  What  is  meant  by  an  account  ? 

A.  A  statement  of  the  debits  and  credits  of  a  tranta^um. 


J 


16 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


Q.  What  is  meant  by  the  term  stock  ? 

A.  (Xipital  invested  in  trade^  and  tnade  use  of  in  account-hooks 
in  the  place  of  the  name  of  the  person  doing  fmsiness. 

Q.  What  is  meant  by  balance  ? 

A.  The  diference  between  the  footings  of  an  account. 

Q.  What  is  meant  by  a  creditor  ? 

A.  The  person  to  whom  a  debt  is  due. 

Q.  What  is  meant  by  a  debtor? 

A.  A  person  who  owes  another. 


Q.  What  is  meant  by  sundries? 

A.  When  we  say  Sundries  Dr.  to  Cash,  we  understand  thai  two 
or  more  persons  have  received  cash,  or  that  tico  or  more  things  have 
been  received  which  are  Dr.,  and  that  cash  has  been  delivered  or 
paid  out,  which  must  be  credited. 

Q.  What  is  understood  by  posted,  or  posting  ? 

A.  Entering  accounts  under  their  proper  titles  in  the  Ledger. — 
(Note  (7,  p.  94.) 


yalc/i)  ^^/.e-^^cn^    ^auku'/firi^  at  "/^  ce?ttj ^i^l  yau/...'/ .<^0 /    ^tut,    ^40.(yf. 


Q.  How  is  this  transaction  to  be  entered 

A.  See  Day-book^  p.  36. 

Q.  Why  debit  Calvin  Hagar,  and  credit  Merchandise  ? 

A.  Because  Calvin  Hagctr  is  the  receiver,  and  Merchandise  is  the 
thing  delivered. — (It  being  agreeable  with  Rule  2.) 

Q.  What  would  be  Calvin  Ilagar's  entry  ? 

A.  Merchandise  Dr.  to  Edward  Martin, 

For  amount  goods  boi'out  of  him,  as  per 
BILL $40.81 

Q.  Why  debit  Merchandise,  and  credit  Edward  Martin  ? 

A.  Became  Merchandise  is  the  thing  received,  and  Edward  Mar- 
tin is  the  deliverer. — (Apply  Rule  2. ) 


Q.  What  is  the  form  of  bill  of  merchandise  given  Calvin 
Hagar? 

A.  See  Bill  No.l,Tp.  84. 

Q.  What  is  meant  by  debit  ? 

A.  To  enter  vpon  the  debtor  side,  it  being  on  the  left-hand  tide 
of  an  account  in  the  Ledger. 

Q.  What  is  meant  by  credit? 

A.  To  enter  vpon  the  credit  »ide,  it  being  on  the  right-hand  side 
of  an  account  in  the  Ledger. 

Q.  What  is  meant  by  bill  of  merchandise  ? 

A.  A  written  statement,  giving  the  articles  and  amount  of  goods 
bought  or  sold. 


Q.  How  is  this  transaction  to  be  entered  ? 
A.  See  Day-book,  p.  87. 
Q.  Why  debit  Cash  and  credit  Merchandise  ? 
A.  Because  Cash  is  the  thing  received,  and  Merchandise  is  the 
thing  delivered. — (Apply  Rule  2.) 

Q.  What  would  be  William  Allen's  entry  ? 
A.  Merchandise  Dr.  to  Cash, 

For  amount  paid  Edward  Martin  for  goods 
bought  of  him,  as  per  bill  of  3rd $94.60 


Q.  Why  debit  Merchandise  and  credit  Cash  ? 

A.  Because  Merchandise  is  the  thing  received,  and  Oath  it  the 
thing  delivered  by  him  in  payment  for  the  same. — (Rule  2.) 

Q.  What  is  the  form  of  bill  merchandise  sold  William  Allen? 

A.  See  p.  85,  BiU  2. 

Q.  On  which  side  of  the  Cash-book,  by  me,  is  the  $94.60  to 
be  entered  ? 

A.  Debtor  side. 

Q.  Why? 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH 


17 


A.  Because  it  is  a  sum  received. 

Q.  Is  there  a  cash  receipt  to  be  given  William  Allen  for  the 
$94.60  received? 
A.   There  is  not. 
Q.  Why? 


A.  Because  he  has  the  bill  of  merchandise  receipted,  which  an- 
swers for  the  same. 

Q.  What  is  meant  by  cash  receipt? 

A.  A  writing,  acknowledging  Juiving  received  something. 


afnoiifi/ina.  /o  ^447-^^- 


Q.  How  is  this  transaction  to  be  entered  ? 
A.  See  Day-book,  p.  37. 

Q.  Why  debit  Merchandise  and  credit  Edwin  Lincoln  ? 
A.  Because  Mercfiandise  is  the  thing  received,  and  Edunn  Lin- 
coln is  the  deliverer. — (Apply  Rule  2.) 

Q.  What  would  be  Edwin  Lincoln's  entry? 
A.  Edward  Martin  Dr.  to  Merchandise, 


For  goods  sold  him  on  account,  $447.59. — (Note  D, 
see  p.  94.) 
Q.  Why  debit  Edward  Martin  and  credit  Merchandise  ? 
A.  Because  Edward  Martin  w  the  receiver  and  Merchandise  is 
tlie  thing  delivered.— (A-ppW  Rule  2.) 

Q.  What  is  the  form  of  bill  merchandise  in  this  transaction  ? 
A.  See  Bill  3,  p.  85. 


a7nou7ttc7ta.  ■to  jp^74' 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Day-book,  p.  87. 

Q.  Why  debit  Merchandise  and  credit  Cash  ? 

A.  Because  Merchandise  is  the  thing  received,  and  Cash  is  the 
thing  delivered.— {A^^^\y  Rule  2.) 

Q.  What  would  be  Daniel  Ellis's  entry? 

A.  Cash  Dr.  to  Merchandise, 

For  amount  received  of  Edward  Martin,  for 
goods  sold $74 

Q.  Why  debit  Cash,  and  credit  Merchandise  ? 

A.  Because  Cash  is  the  thing  received,  and  Merchandise  is  the 
thing  delivered.— (A^ply  Rule  2.) 


Q.  What  is  the  form  of  bill  merchandise  in  this  transaction  ? 

A.  See  Bill  4,  p.  85. 

Q.  Is  Daniel  Ellis  to  give  a  cash  receipt  for  the  $74? 

A.  fie  is  not. 

Q.  Why? 

A.  Btcause  he  has  receipted  the  bill  of  m,erchandise  bought. — 
(Note  E,  see  p.  94.) 

(J.  On  which  side  of  the  Cash-book  by  me  is  the  $74  to  be 
entered  ? 

A.   Credit  side. 

Q.  Why? 

A.  Because  it  is  a  sum  paid  out. 


ti?  fOOO,^i  m^cc/i  q/ ^a7t^  ^tnejt  t/iejn  7?iy  Q4^ot^  at  ^4  c^yi>  /lo?n  c/at^,  Al  /y^  aa7m^  a77z^u7it. 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Day-book,  p.  37. 

Q.  Why  debit  Merchandise  and  credit  Bills  Payable? 


A.  Because  Merchandise  is  the  thing  received,  and  Bills  Pay- 
able (viz.,  my  own  note)  is  the  thing  delivered  in  payment  for  tfie 
goods.— (Apply  Rule  2,  Note  F,  see  p.  94.) 


I 


18 


PRACTICAL    BOOK-KEEPING    FOR    YOUTU. 


Q.  What  would  be  James  Warren  &  Co.'s  entry  ? 
A.  Bills  Receivable  Dr.  to  Merchandise, 

For  Edward  Martin's  Note,  at  twenty-four 

DAYS    FROM    DATE,  IN  PAYMENT  TOR  GOODS  SOLD 

HIM ^«00 

Q.  Why  debit  Bills  Receivable  and  credit  Merchandise  i 

A.  Because  Bills  Receivable  {viz.,  Edward  Martin's  note)  is 

ViS  thing  received^  and  Merchandise  is  the  thing  delivered.— {Ap- 

ply  Rule  2,  Note  G,  see  p.  95.) 


Q.  What  is  the  form  of  bill  of  merchandise  in  this  tranaao- 

tion  ? 

A.  See  p.  86,  Bill  5. 

Q.  What  is  the  form  of  note  given  in  this  transaction? 

A.  See  NoU  2,  p.  79. 

Q.  Wliy  is  this  a  payable  note  on  my  part? 

A.  Because  it  is  a  note  due  from  me  to  another  (t>«.,  James 
Warren  dt  Co.) 


'(^mndac/ion  / ^aniia^y  ^. 

//c^.^4,^^  «*/^/  ofAuue  i^c^,^^  <-?t  /uiy,nent  /^J^  ^U  on  c/c?^uz?u/  u>ct^t  cnt^i^. 


Q.  How  is  this  transaction  to  be  entered  ? 
A.  See  Day-Book,  p.  38. 

Q.  Why  debit  Bills  Receivable  and  credit  Merchandise? 
A.  Because  Bills  Receivable  {viz.,  Jlenry  DoolittUs  note)  is  the 
thing  received,  and  Merchandise  is  the  thing  delivered.— ^Kp^ly 
:    Rule  2.) 

il       Q.  What  would  be  Henry  Doolittle's  entry  ? 
'        A.  Merchandise  Dr.  to  Bills  Payable, 

For  my  note  to  Edward  Martin  on  demand, 
in  payment  for  goods,  as  per  bill  of 
5th *18.04 


Q.  Why  debit  Merchandise  and  credit  Bills  Payable  1 
A.  Because  Merchandise  is  the  thing  received,  and  Bills  Pay- 
able {viz.,  my  note  to  E   M.)  w  the  thing  delivered.— {Ai^ply 

Rule  2.) 

Q.  What  is  the  form  of  bill  merchandise  in  this  transaction? 

A.  See  BiU  6,  p.  86. 

Q.  What  is  the  form  of  note  in  this  transaction? 
A.  See  Note  3,  p.  75. 

Q.  Why  is  it  a  receivable  bill  or  note  on  my  part? 
A.  Because  U  is  due  to  me  from  another  {viz.,  Henry  Doo- 
liUle). 


(01ian^ac/€an  (T ^inaniy  a . 


S(?0  <^/iki^,/ol  ^acc/./le  AoJ  i^c^.ec^  en /.uy^ncnt  .ny  .u>l^  ut /oui  ^ntfi>, /^^n  c/at^, /c^i  ^OO 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Daybook,  p.  38. 

Q.  Why  debit  Merchandise,  and  credit  Bills  Payable  and 

Cash? 

A.  Because  Merchandise  is  the  thing  received,  and  Bills  Pay- 
able (viz.,  my  own  note)  and  Cash  are  the  things  delivered  CharUs 
Mann,  in  payment  for  goods  bijught  o/him.—{A^Y>\y  Rule  2.) 

Q.  What  would  be  Charles  Mann's  entry? 

A.  Sundries  Dr.  to  Merchandise, 

Bills  Receivable  for  Edward  Martin's 


Note,  at  four  months,  from  date,  in  part 

payment  for  goods  sold  him 1200.00 

Cash,  for  amount  received  in  full ^^^-^2 

$300.00 
Q.  Why  debit  Bills  Receivable  and  Cash,  and  credit  Mer- 
chandise ? 

A.  Because  Bills  Receivable  (viz.,  Edward  Martin's  note)  and 
Gash  are  the  things  received  {by  Charles  Mann,  in  payment  for 
goiHls  soil),  and  Merchandise  is  the  thing  which  he  delivered.^ 
(Apply  Rule  2.) 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


19 


Q.  What  is  the  form  of  bill  merchandise  in  this  transaction  ? 
A.  See  Bill  7,  p.  86. 

Q.  What  is  the  form  of  note  in  this  transaction? 
A.  See  Note  8,  p.  79. 

Q.  Why  is  this  a  payable  note  on  my  part  ? 
A.  Because  it  is  due  from  me  to  another  {viz.,  Charles  Mann). 
Q.  On  which  side  of  the  Cash-book  by  me  is  this  $100  to  be 
entered  ? 


A.    Credit  side. 
Q.  Why  ? 

A.  Because  it  is  a  sum  paid  out. 

Q.  Is  there  a  cash  receipt  to  be  given  by  Charles  Mann  for 
the  $100  paid  him  ? 
A.   There  is  not. 
Q.  Why? 
A.  Because  the  bill  of  Merchandise  bought  is  receipted. 


a^iountcnfx  /o    ^40(?,  ^l    tonu:^/t  A^    nuJ    la^ccfj^c^,  en    Auuneinl,   rny    G4%t/s^  ut  ac'x  ??ton€M    /kom 
fOl/i,  /e>i    Sfjf6f6?,  unc/  ni.7d    c/iaJ't    uAon   Jounce/  ^u'na.   £f     So.   at  ae^dt,   c?t    Acd    Aii'ol,  yft»i  tn^ 


Q.  How  is  this  transaction  to  be  entered? 

A.  See  Day-book,  p.  38. 

Q.  Why  debit  Merchandise,  and  credit  Bills  Payable  and 
Daniel  King  &  Co.  ?— (Note  K,  p.  95.) 

A.  Because  I  have  received  merchandise  and  Bills  Payable  (viz., 
my  own  note),  and  Daniel  King  db  Co.'s  payment  of  my  draft, 
are  the  things  which  I  have  delivered  James  Clark,  in  payment  for 
goods  bought  r/Am— (Apply  Rule  2.)  Or,  because  Daniel  King 
db  Co.  confers  the  beneft. 

Q.  What  would  be  James  Clark's  entry,  if  made  before  pre- 
senting the  draft  ? 

A.  Bills  Receivable  Dr.  to  Merchandise  (Note  W,  p.  95),, 
For    Edward    Martin's   Note,   at    (> 
months  from  date,  in  part  payment 

FOR  goods  sold  HIM $200.00 

His  draft  on  Daniel  Kino  &  Co.  at 
sight,  payable  to  my  order  for 

THE  balance 200.00 

'  $400.00 

Q.  Why  debit  Bills  Receivable  and  credit  Merchandise  ? 

A.  Because  BUls  Receivable  {viz.,  Edward  Martin's  note  and 

his  draft  on  Daniel  V^ing  d  Co.,  payable  to  my  order),  are  the 

things  received,  and  Merchandise  is  t/ie  thing  delivered. — (Apply 

Rule  2.) 

Q.  What  would  be  Daniel  King  &  Co.'s  entry,  when  James 
Clark  presented  my  draft  to  them  for  payment  i 
A.  Edward  Martin  Dr.  to  Cash, 

For    AMOUNT    paid    his    draft    to    James 

Clark $200.00 

Q.  Why  debit  Edward  Martin  and  credit  Cash  ? 
A.  Because  Edward  Martin  receives  the  benefit,  and  Cash  is  the 
thing  delivered. — (Apply  Rule  2.) 

Q.  What  would  be  James  Clark's  entry  on  receiving  the 
cash? 


A.  Cash  Dr.  to  Bills  Receivable $200.00 

For  amount  received  of  Daniel  Kino 

&    Co.,    on     their     PAYliENT    OF    E. 

Martin's  draft $200.00 

Q.  Why  debit  Cash  and  credit  Bills  Receivable  ? 

A.  Because  Cash  is  the  thing  received,  and  Bills  Receivable 
{viz.,  the  above  draft)  is  the  thing  delivered. — (Apply  Rule  2.) 

Q.  What  is  the  form  of  bill  merchandise  in  this  transaction  ? 

A.  See  BUI  8,  p.  87. 

Q.  What  is  the  form  of  note  given  in  this  transaction  ? 

A.  See  Note  4,  p.  79. 

Q.  Why  is  this  a  payable  note  on  my  part  ? 

A.  Because  it  is  due  from  m«  to  another  {viz.,  James  Clark). 

Q.  What  is  the  form  of  draft  given  ? 

A.  See  Draft  1,  p.  81. 

Q.  What  is  a  draft? 

A.  A  draft  is  an  order  from  one  person  to  another  directing  the 
payment  of  rrvoney. 

Q.  Who  is  the  drawer  of  this  draft  ? 

A.  Edioard  Martini. 

Q.  Why? 
,        A.  Because  he  is  the  maker,  and  has  given  his  order  or  draft  to 
another. 

Q.  Who  are  the  drawees  i 

A.  Daniel  King  db  Co. 

Q.  Why? 

A.  Because  they  are  the  person*  on  whom  the  bill  is  drawn. 

Q.  Who  is  the  payee  I 

A.  James  Clark. 

Q.  Why? 

A.  Because  he  is  the  person  in  whose  favor  the  draft  is  given. 

Q.  To  whom  must  this  draft  be  presented  for  payment  ? 

A.  To  the  drawees  {viz.,  Daniel  King  dt  Co.) 

Q.  What  is  understood  by  an  acceptance  ? 


L:= 


20 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


A.  A  promise  to  pay  a  draft  on  orcUr  when  it  becomes  due, 
which  is  yenerally  done  by  writing  the  word  accepted,  and  also  the 
signature  of  the  acceptor  across  the  face  of  the  same  {generally 
written  with  red  ink). 

Q.  What  must  James  Clark  do  in  order  to  get  tlie  money  on 
this  draft  ? 


A.  Write  his  name  across  the  buck  of  it. 

Q.  lie  is  said  then  to  have  done  what  ? 

A.  Indorsed  it. 

Q.  And  is  called  what? 

A.  The  indorse r. 


Q.  How  is  this  transaction  to  be  entered  ? 
A.  See  Day-book,  p.  89. 

Q.  Why  debit  Bills  Receivable  and  credit  Merchandise! 
A.  Became  Bills  Receivable  {viz.,   William  Kingston's  note)  is 
the  thing  received  in  payment  for  goods  sold  him,  and  Merchandise 
it  the  thing  delivered.— { Apply  Rule  2.) 

Q.  What  would  be  William  Kingston's  entry  i 
A.  Merchandise  Dr.  to  Bills  Payable, 

For  my  note  to  Edward  Martin,  at  20  days 
from  date,  in  payment  for  goods  bought 

of  him,  as  per  bill  of  IItii $290.00 

Q.  Why  debit  Merchandise  and  credit  Bills  Payable  ? 

A.  Because  Merchandise  is  the  thing  received,  and  Bills  Pay- 


able {viz.,  William  Kingston's  note)  is  the  thing  delivered.— (^Ap- 
ply Rule  2.) 

Q.  What  is  the  form  of  bill  merchandise  given  in  this  trans- 
action ? 

A.  See  Bill  9,  p.  87. 

Q.  Is  the  note  in  this  transaction  a  receivable  or  payable  bill 

to  me  ? 

A.  Receivable.  * 

Q.  Why? 

A.  Became  it  is  due  to  m^from  another  (viz.,  William  Kings- 
ton). 

Q.  What  is  the  form  of  this  note  ? 

A.  See  Aote  4,  p.  76. 


(^iandoc/mn  // ^Tiaaty  /2, 

^(?  e/o/^aU,   a,i(^  ldt>  ^a/anc^,   ^O  M//<^iJ,   ^  Utn  ^/liee  w^//^/6  u^a/iota  tn^^Ua^. 


Q.  How  is  this  transaction  to  bo  entered  i 
A.  See  Day-book,  p.  89  ;  also,  see  p.  96. 
Q.  Why  debit  Merchandise  and  credit  Edwin  Lincoln  ? 
A.  Because  Merchandise  is  the  thing  received,  and  Edwin  Lin- 
coln is  the  deliverer.— {A\iY>\y  Rule  2.) 

Q.  What  would    be  Edwin   Lincoln's   entry    of  the    first 

part? 

A.  Edward  Martix  Dr.  to  Merchandise, 

For  goods  sold  him $150.00 

Q.  Why  debit  Edward  Martin  and  credit  Merchandise  ? 

A.  Because  Edward  Martin  is  the  receiver,  and  Merchandise  is 
the  thing  delivered.— {Apply  Rule  2.) 


Tkansaction   11. — Second  Part. 
Q.  Wljy  debit  Edwin  Lincoln,  and  credit  Cash  and  Bills 
Payable. 

A.  Because  Edwin  Lincoln  is  the  receiver,  and  Cash  and  Bills 
Payable  {viz.,  my  own  note)  are  tiis  things  delivered.— {App\y 
Rule  2.) 

Q.  What  would  be  Edwin  Lincoln's  entry  ? 

A.  Sundries  Dr.  to  Edward  Martin $100.00 

Cash,  for  amount  on  account $50.00 

Bills  Receivable,  for  his  note  at  30 

days   from   date,  both    in  part   PAY- 
KENT  FOR  goods  sold  HIM 50.00 


PRACTICAL    BOOK-KEEPING 


FOR 


YOUTH. 


21 


Q.  Why  debit  Cash  and  Bills  Receivable,  and  credit  Edward 
Martin  ? 

A.  Because  Cash  and  Bills  Receivable  {viz.,  Edward  Martin's 
note)  are  the  things  received,  and  Edward  Martin  is  the  deliverer. 
—(Apply  Rule  2.) 

Q.  What  is  the  form  of  bill  merchandise  in  this  transaction? 

A.  See  BUI  10,  p.  87. 

Q.  On  which  side  of  the  Cash-book  by  me  is  tMs  cash  to  be 
entered  ? 

A.  Credit  side. 

Q.  Why? 

A.  Because  it  is  am>ount  paid  out. 


Q.  Is  there  a  cash  receipt  to  be  received  in  this  transaction  ? 
A.  There  is. 
Q.  Why? 

A.  Because  the  bill  of  merchandise  is  not  receipted  {and  it  is 
right  to  receive  something  as  a  voucher  for  the  am<nint  paid). 
Q.  Why  is  this  note  a  payable  bill  on  my  account  ? 
A.  Becaiise  it  is  due  from  me  to  another  {viz.,  Edwin  Lincoln). 
Q.  What  is  the  form  of  this  note  ? 
A.  See  Note  5,  p.  79. 

Q.  What  is  the  form  of  the  cash  receipt  ? 
A.  See  Receipt  1,  p.  82. 


(^ia'?zdac/4an  / 2 ^maa^  / 2, 

fO /K^ec^    €w<:^^  S'^juve/,    ^{?0  y<zu/a,  cU  <S4    cenl:^ ^l  ycUc/...^^04  ,-    ^o^/,  }^SS7.7o  ,■  j^ 


Q.  How  is  this  transaction  to  be  entered  ? 
A.  See  Day-book,  p.  89. 

Q.  Why  debit  Bills  Receivable  and  Cash,  and  credit  Mer- 
chandise ? 

A.  Because  Bills  Receivable  {viz.,  Thomas  Whitney's  note)  and 
Cash  are  the  things  which  I  have  received,  and  Merchandise  is  the 
thing  which  I  delivered. — (Apply  Rule  2.) 

Q.  What  would  be  Thomas  Whitney's  entry? 

A.  Merchandise  Dr.  to  Sundries $337.75 

Bills  Payable,  for  my  note  to  Ed- 
ward Martin,  at  2  months   from 

DATE $200.00 

Cash,  both   in   payment   for  goods 

bought  of  him,  as  per  bill  of  13th.     137.75 
Q.  Why  debit  Merchandise,  and  credit  Bills  Payable  and 
Cash? 

A.  Because  Merchandise  is  tJie  thing  received,  and  Bills  Pay- 
able (viz.,  Thomas  Whitney's  note)  and  Cash  are  the  things  deliv- 
ered.— (Apply  Rule  2.) 


Q.  What  is  the  form  of  bill  merchandise  in  this  transaction  I 

A.  See  Bill  11,  p.  88. 

Q.  Is  the  note  in  this  transaction  receivable  or  payable  on 
my  part  ? 

A.  Receivable. 

Q.  Why? 

A.  Because  it  is  due  to  m^from  another  {viz.,  Thomas  Whitney). 

Q.  What  is  the  form  of  this  note  ? 

A.  See  Note  5,  p.  76. 

Q.  On  which  side  of  the  Cash-book  by  me  is  this  $137.75  to 
be  entered  ? 

A.  Debtor  side. 

Q.  Why? 

A.  Because  it  is  a  sum,  received. 

Q.  Is  there  a  cash  receipt  to  be  given  Thomas  Whitney  for 
this  amount  ? 

A.  There  is  not. 

Q.  Why  ? 

A.  Because  he  has  the  bill  of  m^erchandise  receipted. 


^^z^cc/  (£7n^9?taj   ^dcKU,    ^auyd  on,  ^^oon^accoic9i^,  ciinow/i/^  ^^OO. 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  .'<ee  Day-book^  p.  40. 

Q.  Whv  debit  Thomas  Chase  and  credit  Cash? 


A.  Because  Thomas  Chase  is  the  receiver,  and  Cash  is  the  tiling 
delivered. — (Apply  Rule  2.) 

Q.  What  would  be  Thomas  Chase's  entry  I 


'  '>»"■'  ■  ^^'' 


iiStSU 


99 


PRACTICAL  BOOK-KEEPING  FOR  YOUTH. 


1100.00 


A.  Cash  t>R.  to  Edward  Maktik 

For  amount  received  on  account $100.00 

Q.  Why  debit  Cash  and  credit  Edward  Martin  ? 
A.  Because  Qish  is  the  thing  received,  and  Edward  Martin  i» 
tke  deliverer.— {Ay)Y>\y  Rule  2.) 

Q.  Which  side  of  the  Cash-book  is  this  $100  to  be  entered? 


A.  Credit  $ide^  because  it  is  a  mm  paid  out. 
Q.  Is  there  a  cash  receipt  to  bo  given  in  this  transaction  by 
Thomas  Chase  ? 
A.   There  is,  because  U  is  a  sum  paid  out  »n  account  simply. 
Q.  What  is  the  form  of  this  cash  receipt  ? 
A.  See  Heceipt  2,  p.  82. 


a^  ca^^,   '^^^  i^/i^i^,  ^i'    ^^   ^^nce. 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Day-book,  p.  40. 

Q.  Why  debit  Bills  Receivable  and  Cash,  and  credit  Mer- 
chandise ? 

A.  Because  Bills  BecHvable  {viz.,  Edward  Banks'  draft  on 
John  Cook  far  $200,  and  his  own  note  for  $200)  and  Cash,  are  the 
things  which  J  have  received  in  payment  for  goods  sold  him,  and 
Merchandise  is  the  thing  which  I deliv(red.—{ A^^\y  Rule  2.) 

Q.  What  woiild  be  Edward  Banks'  entry  ? 

A.  Merchandise  Dr.  to  Sundries $616.00 

John  Cook,  for  his  acceptance  of  mv  draft 

AT   10   DAYS,  IN    FAVOR   OF   EdWARD   MaRTIN, 

FOR ^200.00 

Bills  Payable,  for  my  own  note  at  3  months 

FROM  date 200.00 

Cash,  for  amount  in  full  for  goods  bought, 

AS  PER   BILL  of  15TH 216.00 

Q.  Why  debit  Merchandise,  and  credit  John  Cook,  Bills  Pay- 
able, and  Cash  ? 

A.  Because  Merchandise  is  the  thing  received,  and  John  Cook 
(viz.,  his  acceptance  of  my  draft),  Bills  Payable  {viz.,  my  own 
note),  and  Cash  are  the  things  Edward  Banks  delivered  in  pay- 
ment for  goods  purchased.— {A^^\y  Rule  2.) 

Q.  What  would  be  John  Cook's  entry,  when  the  draft  was 
presented  for  his  acceptance  ? 

A.  Edward  Banks  Dr.  to  Bills  Payable..  .$200.00 
For  my  acceptance  of  his  draft  at  10  days' 

810HT,  FAVOR  OF  EdWARD  MaRTIN $200.00 


Q.  Why  debit  Edward  Banks  and  credit  Bills  Payable  ? 

A.  Because  Edward  Banks  receives  the  benefU  of  the  draft  passed 
over  to  Edward  Martin  {and  my  acceptance  of  the  draft  to  m^  be- 
comes a  Bill  Payable),  which  is  the  thing  delivered. — (Apply  Rule 

2.) 

Q.  What  is  the  form  of  bill  merchandise  in  this  transaction  ? 

A.  See  Bill  12,  p.  88. 

Q.  Is  this  draft  a  receivable  or  payable  bill  on  my  part? 

A.  Receivable. 

Q.  Why? 

A.  Because  it  is  given  in  my  favor,  and  is  due  to  m*  from 
another. 

Q.  What  is  the  form  of  this  d::ft? 

A.  See  Draft  6,  p.  76. 

Q.  What  must  I  do  in  order  to  get  th:  .rioney  on  this  draft? 

A.    Write  my  namf  on  the  back,  which  is  called  indorsing  it  over. 

Q.  Is  the  note  in  this  transaction  receivable  or  j»ayable  on  my 
part  I 

A.  Jieceivahle. 

Q.  Why  ? 

A.  Because  it  is  due  to  me  from  another  {viz.,  Edward  Banks). 

Q.  What  is  the  form  of  note  in  this  transaction  ? 

A.  S«e  Note  7,  p.  76. 

Q.  On  which  side  of  the  Cash-book  by  me  is  this  $216  to  be 
entered  ? 

A.  Debtor  gide,  because  it  is  a  sum  received. 

Q.  Is  there  a  cash  receipt  to  be  given  for  the  $216  ? 

A.  There  is  not,  because  the  bill  merchandise  is  receipted. 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


23 


Q.  How  is  this  transaction  to  be  entered  ? 
A.  See  Day-book,  p.  40. 

Q.    Why    debit   Bills    Payable    and   Interest,    and   credit 
Cash? 

A.  Because  I  have  received  Bills  Payable  {viz.,  my  ottm  note 
given  up),  and  Interest  receives  the  benefit,  and  Cash  is  Hie  thing 
delivered.— (Apply  Rule  2,  Note  D,  see  p.  95.) 
Q.  What  would  be  Henry  Manning's  entry  ? 

A.  Cash  Dr.  to  Sundries $631.58 

Bills  Receivable,  for  amount  received  of 
Edward    Martin,   in    payment    for   Note 

given  up $630.00 

Interest,  for  amount  received  for  15  days' 
interest  ox  same 1.58 


Q.  Why  debit  Cash,  and  credit  Bills  Receivable  and  Inter- 
est? 

A.  Becduse  Cash  is  the  thing  received,  and  Bills  ReceivahU  {viz., 
Edward  Mctrtin''s  note)  and  Interest  the  things  delivered. — (Ap- 
ply Rule  2.)     Or  because  interest  confers  the  benefit. 

Q.  On  which  side  of  the  Cash-book  by  me  is  this  $631.58  to 
be  entered  ? 

A.   Credit  side,  it  being  a  sum  paid  out. 

Q.  Why  is  the  note  in  this  transaction  payable  on  my  part? 

A.  Because  it  is  due  from  me  to  another  {viz.,  Henry  Man- 
ning). 

Q.  Is  there  a  cash  receipt  to  be  given  in  this  transaction  i 

A.  There  is  not,  because  I  have  the  old  note  which  answers  for 
the  receipt. — (Note  /,  see  p.  95.) 


(^^kmdac^ten   Yd J^nuat^  "fo. 


^^  ^ 


,!S^an^'  cAa/it  on  n^'r/t  o/  f^^n,  a^  ^n  (/uyf. 


Q.  How  is  this  transaction  to  be  entered  ? 
A.  See  Day-book,  p.  40. 

Q.  Why  debit  Cash,  and  credit  Bills  Receivable  ? 
A.  Because  Cash  is  the  thing  received,  and  Bills  Receivable 
(viz.,  John  Cook's  acceptance  of  Edward  Banks'  draft)  is  the  thing 
delivered. — (Apply  Rule  2.) 
Q.  What  would  be  John  Cook's  entry? 

A.  Bills  Payable  Dk.  to  Cash $200.00 

For  paid  mv  acceptance  of  Edward 
Banks'  draft,  favor  of  Edward 
Martin $200.00 


Q.  Why  debit  Bills  Payable  and  credit  Ca.sh? 

A.  Because  Bills  Payable  {viz.,  my  acceptance  of  Edward 
Banks''  draft,  is  the  thing  received,  and  Cash  is  the  thing  delivered 
in  payment  for  the  same. — (Apply  Rule  2.) 

Q.  On  which  side  of  the  Cash-book  by  me  is  this  200  dollars 
to  be  entered  ? 

A.  Debtor  side,  because  it  is  a  sum  received. 

Q.  Is  there  a  Cash  receipt  to  be  given  John  Cook  for  the  200 
dollars  ? 

A.  There  is  not,  because  he  has  received  his  own  acceptance  of 
Edward  Banks'  draft^  which  answers  for  the  same. 


yciu/..M4^  c/o^^a^li> /     /  (xue  fu?t<>y    o/toeeoj,    f^/i,cecaJ,   d*^/^  yatc^,   a^  ^{?  ccfttj  A^l  yciu/...f'/(? 


24 


PRACTICAL    BOOK-KEEriNG    FOR    YOUTH. 


tn^znc/  /oi,  S^O  c/aU€iUt,   U9t(/  ^nr^  /ni^i^ncr,    //^  t/<t^ii4i,    /<>  He  ft  Sf?  c/ayJ  /lorn  t/a^. 


Q.  How  is  this  transaction  to  he  entered  ? 
A.  Ste  Day-book,  p.  41.     Also  tee  p.  96. 
Q.  Why  debit  Calvin  Ila^ar  and  credit  Merchandise? 
A.  Because  he  is  the  rerieiver,  and  MerchaiuliM  th4  thing  d*- 
Uvered. — (Apply  Rule  2.) 

Q.  What  would  be  Calvin  Ilnpnr's  cntrj'  ? 

A.  Merchandise  Dr.  to  Edward  Martin $810.00 

For  amount  goods  bouoht  of  him,  as 

PER  BILL  OK  18th $?^10.00 

Q.  Why  debit  Merchundise  and  credit  Edward  Martin  ? 
A.  Because  Merch^mdise  is  the  thing   received,  and   Klward 
Martin  is  the  delii>erer. — (Apply  Kulo  2.) 


Transaction  IV. — Second  Part. 

Q.  Why  debit  Cash  and  Bills  Receivable,  and  credit  Calvin 
Hagar? 

A.  Becaitse  Cash  and  Bills  Beceicahle  {viz.,  Calvin  Ilagar's 
note)  are  the  things  received,  and  Calvin  Hagar  is  the  deliverer. — 
(Apply  Rule  2.) 

Q.  What  would  be  Calvin  Ilajrar's  entry  ? 

A.  Edward  Martin  Dr.  to  Sundries $700.00 

Cash,  for  amount  paid  on  account $500.00 


Bills  Payable,  for  mt  Note  on  demand,  for.    200.00 
•  Both  in  part  payment  for  goods  bought  of 

HIM,  PER  bill  of  ISth. 

Q.  Why  debit  Edward  Martin,  and  credit  Ctwh  and  Bills 
Payable  ? 

A.  Because  he  is  the  receiver,  and  Cash  and  Bills  Payable  (viz.y 
C.  llagtir''s  note)  are  the  things  delivered. — (Apply  Rule  2.) 

Q.  What  is  the  form  of  bill  merchandise  in  this  transaction? 

A.  See  BiU  13,  p.  88. 

Q.  On  which  side  of  the  Ca.<»h-book  by  me  is  this  $500  to  be 
entered  ? 

A.  Debtor  side,  because  it  is  a  <wf»  received, 

Q.  Is  there  a  Cash  receipt  to  be  given  in  this  transaction  ? 

A.  There  is,  because  the  bill  of  merchandise  is  not  receipted, 

Q.  Is  this  a  receivable  or  payable  note  on  my  part  ? 

A.  Receivable, 

Q.  Why  is  it  a  receivable  note  ? 

A.  Because  it  is  due-  to  me  from  another  (viz.,  Calvin  Hagar). 

Q.  What  is  the  form  of  this  note  ? 

A.  See  Note  8,  p.  77. 

Q.  What  is  the  form  of  this  Cash  receipt  ? 

A.  See  Receipt  3,  p.  83. 


of  ^a^t^    Uc44k^ec^  o/  ^uTneo    <^^ruy/i    4ta    (34o^,  at  J^  ^ne>n/M   Aoni  t/cUe,   tn,  ^^ment ^:>l 
^^nce    c^eee    fne  on,  ^ood-uccoun/-.   Aayu^^  at  //^    ^!oan4  o/  .^t<*on.    -^<^W*.         G€m4H4,nt,   4^^? 


Q.  How  is  this  transaction  to  bo  entered  ? 
A.  &-e  Day- Book,  p.  41. 

Q.  Why  debit  Bills  Rooeivoble  and  credit  James  Smith? 
A.  Because  it  in  the  thing  received,  and  James  Smith  is  the  de- 
liverer.— (Apply  Rule  2.) 

Q.  Wlxat  would  be  James  Smith's  entry? 
A.  Edward  Martin  Dr.  to  Bills  Payable, 

For  my  Note,  at  2  months  from  date,  to  bal- 
ance HIS  account $400.00 


Q.  Why  debit  Edward  Martin  and  credit  Bills  Payable? 

A.  Because  he  is  the  receiver,  and  Bills  Payable  {viz.,  James 
Smith's  note)  is  the  thing  delivered. — (Apply  Rule  2.) 

Q.  Is  this  on  my  part  a  receivable  or  payable  note? 

A.  Receivable,  because  it  is  due  to  me  from  another  {viz.,  James 
Smith). 

Q.  What  is  the  form  of  this  note? 

A.  See  Note  y,  p.  77. 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


25 


Q4^ote^^%   ^^O.J^^. 


tnc  cntcle<t^  na/vcna  dccn  a</<zca. 


Q.  How  is  this  transaction  to  be  entered  ? 
A.  See  Day-book,  p.  41. 

Q.  Why  debit  Bills  Receivable,  and  credit  Cash  and   In- 
terest ? 

A.  Because  Bills  Receivable  (viz.,  William  Clark's  note)  is  the 
thing  received,  and   Cash  and  Interest  are  tlie  things  delivered. 
Or  because  Interest  confers  the  benefit.— {A^^\y  Rule  2.) 
Q.  What  would  be  William  Clark's  entry? 

A.  Sundries  Dr.  to  Bills  Payable $50.25 

Cash,  for  amount  received  of  Edward 
Martin,  for  which  I  have  given  my 
Note  at  30  days  from  date $50.00 


Interest,  for  30  days'  Interest  added  to 

THE  SAME 25 

Q.  Why  debit  Cash  and  Interest,  and  credit  Bills  Payable  ? 

A.  Because  Cash  and  Interest  are  the  things  received,  and  Bills 
Payable  {viz.,  IVilUam  Cla>k^s  note)  is  the  thing  delivered.  Or 
Itecause  Interest  reo^ves  th«-  benefit. — (Apply  Rule  2.) 

Q.  On  which  side  of  the  Cash-book  by  me  is  the  $50  to  be 
entered  ? 

A.  Credit  side,  because  it  is  a  svm  paid  out. 

Q.  Is  there  a  Cash  receipt  to  be  given  in  this  transaction  ? 

A.   There  is  not,  because  a  note  has  been  given  for  the  same. 

Q.  What  is  the  form  of  this  note  ? 

A.  See  Note  10,  p.  77. 


(^4afhJac/wn  20 ^inaaiy  22. 

excdanae  ^  dcJ   Q4^  to  9ne  o^  ^oO.^^J,  c^tcc/ 1^  ^Otd  c?iatant. 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Day-book,  p.  42. 

Q.  Why  debit  Bills  Receivable  and  credit  Bills  Receiv- 
able ? 

A.  Because  I  have  received  BlUs  Receivable  {viz.,  AmasaffaWs 
acceptance  of  William  Clark's  draft),  and  I  have  delivered  Bills 
Receivable  {viz.,  William  Clark's  nofe).— (Apply  Rule  2.) 

Q.  What  would  be  William  Clark's  entry? 

A.  Bills  Payable  Dr.  to  Bills  Receivable, 

For  HAVING  received  my  Note  of  Edward  Martin, 

and  GIVEN  AmaSA   HaLL's  ACCEPTANCE   OF   MY  DRAFT 
AT  30  DAYS  FROM  DATE. 

Q.  Why  debit  Bills  Payable  and  credit  Bills  Receivable  ? 

A.  Because  Bills  Payable  {viz.,  WiUiam  Clark's  note)  is  the 
thing  received,  and  Bills  Receivable  {viz.,  Amasa  Hall's  acceptance 
of  draft)  is  the  thing  delivered.— {Aipi^ly  Rule  2.) 

Q.  What  would  be  Amasa  Hall's  entry? 

A.  William  Clark  Dr.  to  Bills  Payable.  . . .  $50.25 
For  mt  acceptance  of  his  oaAFT,  30  days  from 

DATE $o0.2!J 

Q.  Why  debit  William  Clark  and  credit  Bills  Payable  ? 
A.  Because  he  is  the  receiver,  or  receives  the  benefit,  and  Bills 
Payable  {viz.,  Amasa  ITalPs  acceptance  of  William  Clark's  draft, 


theref/y  making  U  his  own  bill  payable)  is  the  thing  delivered. — 
(Apply  Rule  2.) 

Q.  What  would  be  William  Clark's  entry  with  Amasa  Hall 
on  receiving  his  acceptance,  and  before  passing  it  over  to  any 

one? 
A.  Bills  Receivable  Dr.  to  Amasa  Hall $50.25 

For   HIS   ACCEPTANCE   OF    MY   DRAFT  AT   30  DAYS 

FROM  DATE $50.25 

Q.  Why  debit  Bills  Receivable  and  credit  Amasa  Hall  ? 

A.  Became  BiUs  Receivable  (viz.,  Amam  Hall's  acceptance  of 
my  draft)  is  the  the  thing  received,  and  Anuma  Hall  is  the  deliv- 
erer.— (Apply  Rule  2.) 

Q.  Is  Amasa  Hall's  acceptance  of  William  Clark's  draft  a  re- 
ceivable or  payable  bill  on  my  part  ? 

A.  Receivable. 

Q.  Why? 

A.  Because  it  is  given  in  my  favor. 

Q.  Wliat  is  the  form  of  this  draft  and  acceptance? 

A.  See  Draft  11,  p.  77. 

Q.  What  is  necessary  on  my  part  in  order  to  receive  the 
money  from  this  acceptance  ? 

A.  Write  my  name  on  t/ts  back  of  it,  which  is  called  indors- 
ing it. 


26 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


Q.  How  is  this  transaction  to  be  entered  ? 
A.  See  Day-book^  p.  42, 

Q.  Why  debit  Cash  and  Interest,  and  credit  Bills  Receiv- 
able? 

A.  Because  Cash  and  Interest  are  the  things  received^  or  because 
Interest  receives  the  benefit^  and  BUls  Receivable  (viz.^  James 
Smith's  note)  is  the  thing  delivered. — (Apply  Rule  2.) 
Q.  What  would  be  the  Bank  of  Black  River's  entry  ? 

A.  Bills  Receivable  Dr.  to  Sundries $400.00 

Cash,  for  amount  paid  Edward  Martin  on 

James  Smith's  Note $396.00 

Interest,  for  2  months'  discount  on  same 4.00 


Q.  Why  debit  Bills  Receivable,  and  credit  Cash  and  Inter- 
est? 

A.  Because  BxUa  Receivable  {viz.^  James  Smith'' t  not*)  is  the 
thin/f  received,  and  Cash  and  Interest  are  the  things  delivered,  or 
because  Interest  confers  the  benefit. — (Apply  Rule  2.) 

Q.  On  which  side  of  the  Cash-book  by  me  is  this  $396  to  be 
entered  ? 

A.  Debtor  side,  because  it  is  a  sum  received. 

Q.  Is  there  a  Cash  receipt  to  be  given  in  this  transac- 
tion? 

A,  There  is  not^  becatise  the  Bank  has  t/u  note  for  the  same. 


ft 

(^iandocAon  22 Tanaaty  22. 


Q.  How  is  this  transaction  to  be  entered  f 

A.  See  Day-bf>oh,  p.  42. 

Q.  Why  debit  Merchandise,  and    credit    Merchandise  and 

Cash? 

A.  Because  I  have  received  Merchandise,  and  delivered  Mer- 
chandise and  C5m^.— (Apply  Rule  2.) 

Q.  What  would  be  Samuel  King's  entry  ? 

A.  Sundries  Dr.  to  Merchandise $80.00 

Merchandise,  for  amount  received  of 

Edward  Martin,  as  per  bill  of  22d.  .  $25.00 
Cash,  for  amount  received,  both  in 

FULL 55.00 

For  goods  sold  him,  per  bill. 
Q.  Why  debit  Merchandise  and  Cash,  and  credit  Merchan- 
dise! 


A.  Because  Merchandise  and  Cash  are  the  things  received,  and 
Merchandise  is  the  thing  delivered. — (Apply  Rule  2.) 

Q.  What  is  the  form  of  bill  merchandise  given  by  Samuel 
King? 

A.  See  BiU  14,  p.  89. 

Q.  Is  there  a  Cash  receipt  to  be  given  in  this  transac- 
tion ? 

A.  There  is  not,  because  the  biU  merchandise  is  receipted. 

Q.  On  which  side  of  the  Cash-book  by  me  is  the  $55  to  be 
entered  ? 

A.  On  the  credit  side,  because  it  is  a  sum  paid  out. 

Q.  What  is  the  form  of  bill  merchandise  given  to  Samuel 
King? 

A.  See  Bin  15,  p.  89. 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


27 


^mndac/iian  2S .Tanaam  22. 


Q.  How  is  this  ^ansaction  to  be  entered  ? 

A.  See  Day-book,  p.  42. 

Q.  Why  debit  Cash  and  credit  Cornelius  Whitman  ? 

A.  Because  the  thing  received  is  Cash,  and  Cornelius  Whitman 
is  the  deliverer. — (Apply  Rule  2.) 

Q.  What  would  be  Cornelius  Whitman's  entry  ? 

A.  Edward  Martin  Dr.  to  Cash $140.00 

For  amount  paid  him  on  account $140.00 

Q.  Why  debit  Edward  Martin  and  credit  Cash  ? 

A.  Because  lie  is  the  receiver,  and  Cash  the  thing  delivered. — 
(Apply  Rule  2.) 


Q.  On  which  side  of  the  Cash-book  by  me  is  this  $140  to  be 
entered  ? 

A.  Debtor  side,  because  it  is  a  sum  received. 

Q.  Is  there  a  Cash  receipt  to  be  given  in  this  transac- 
tion? 

A.  Tliere  is. 

Q.  Why? 

A.  Because  it  is  Cash  received  on  account. 

Q.  What  is  the  form  of  this  receipt  ? 

A.  See  Receipt  4,  p.  82. 


»  _. 

(^mrc^uc^n  2-^ Tanaam  2-4, 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Day-book,  p.  48. 

Q.  Why  debit  James  Magoon  and  credit  Bills  Payable  ? 

A.  Becaxise  Jam^s  Magoon  is  the  receiver,  or  receives  the  benefit, 
and  BiUs  Payable  {viz.,  my  acceptance  of  his  draft,  thus  making 
it  a  bill  which  I  must  pay),  is  the  thing  delivered. — (Apply  Rule  2.) 

Q.  What  would  be  James  Magoon's  entry? 

A.  Bills  Receivable  Dr.  to  Edward  Martin $400.00 

For  his  acceptance  of  my  draft, 
FAVOR  OF  Charles  Allen,  at  10 
days'  sight $400.00 

Q.  Why  debit  Bills  Receivable  and  credit  Edward  Martin  ? 

A.  Because  it  is  the  thing  received  {viz.,  my  draft  accepted  by 
Edward  Martin),  and  Edward  Martin  is  the  deliverer. — (Apply 
Rule  2.) 


Q.  What  would  be  Charles  Allen's  entry  on  receiving  the 
draft? 

A.  Bills  Receivable  Dr.  to  James  Magoon, 

For  his  draft,  accepted  by  Edward  Mabtot, 
AT  10  days'  sight $400.00 

Q.  Why  debit  Bills  Receivable,  and  credit  James  Magoon  ? 

A.  Because  BiUs  Receivable  (viz.,  James  Magoon's  draft  ac- 
cepted by  Edward  Martin)  is  the  thing  received,  and  James  Ma- 
goon is  the  deliverer,  or  confers  the  benefit. — (Apply  Rule  2.) 

Q.  What  is  the  form  of  this  draft? 

A.  See  Draft  6,  p.  80. 

Q.  What  must  Charles  Allen  do  in  order  to  receive  the 
money  on  this  draft  ? 

A.    Write  his  name  on  the  back,  which  is  called  indorsing  it. 


(Qyliandac/ion   2.^ .^anna^u  2-4. 

Q/    nave    excnaJiaet/  Q4^/€^    mtm  <§7^?ii^u  .^ci?hoeS  /^i,  &ui,   ^Ttu^uu/ accom/moc^a^n ,  eac4^ 
cti^i^un,  a^  ^{?  cMy<f  /lor?t  c/a^  /    amotm^,   ^O  cu^^^z^. 


Q.  IIow  is  this  transaction  to  be  entered  ? 

A.  See  Day-book,  p.  "48. 

Q.  Why  debit  Bills  Receivable  and  credit  Bills  Payable  ? 


A.  Because  I  have  received  Henry  Daniels'  note,  which  is  a  BUI 
Receivable,  and  delivered  my  note,  which  is  a  Bill  PayabU.— 
(Apply  Rule  2.) 


28 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


$50.00 


Q.  What  would  be  Henry  Daniels'  entry  ? 

A.  Bills  Receivable  Db.  to  Bills  Payable 

For  having  exchanged  Notes  -vtith  Ed- 
ward Martin,  each  drawn  at  30  days 

FROM  date,  and  FOR  THE  SAME  AMOUNT.  $50.00 

Q.  Why  debit  Bills  Receivable  and  credit  Bills  Payable? 
A.  Because  Bills  ReceivahU  {viz.,  Eitvard  Martin's  note)  is  the 


thirty  received,  and  BiUs  PayahU  {viz.,  H.  Danidi  w>U)  is  the 
thing  delivered.— {App\y 'Rn\c  2.) 

Q.  What  is  the  form  of  this  receivable  bill  or  note  ? 

A.  See  Xote  12,  p.  78. 

Q.  What  is  the  form  of  this  payable  bill  or  note? 

A.  See  Note  7,  p.  80. 


Q.  How  is  this  transaction  to  be  entered ! 

A.  See  Day-booh,  p.  48.  „      x.     j-     . 

Q.  Why  debit  Private  Account  and  credit  Merchandise! 

A.  Because  PrivaU  Account  {viz.,  the  representative  o/th^  per- 


9on  doing  business,  Uu  design  of  ichich  istoshnothe  amount  of  his 
private  expenses)  is  the  receiver,  and-  Merchandise  is  the  thing  de- 
Uvered.—{A^^\j  Rule  2 ;  Note  J,  see  p.  95.) 


aacu 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Day-book,  p.  48.  „      .     v,    , 

Q   Why  debit  Cash  and  credit  Bills  Receivable  i 
A    Because   Cash  is  the  thing  received,  and  Bills  ReceivabU 
eonfers  the  benefit  {and  is  credit  for  the  amount  received  whu^k 
also  is  to  be  indorsed  on  the  nx>te,  and  noted  in  tU  BiU-book).- 

( Apply  Rule  2.) 

Q.  What  would  be  Samuel  Rice's  entry  ? 

A.  Bills  Payable  Dr.  to  Cash.  $100.00 

Fob  AMOUNT  paid  Edward  Martin  on 

Note ^^OO.OO 


Q.  Why  debit  Bills  Payable  and  credit  Cash  ? 

A.  Because  Bills  Payable  receives  the  benefit  (i.  e.,  the  amount 
paid  has  been  indorsed  on  the  note,  thus  making  the  sum  less),  and 
Cash  is  the  thing  delivered.— {ATpV^y  Rule  2.) 

Q.  On  which  side  of  the  Cash-book  by  me  is  this  $100  to  be 

entered  ? 

A.  Debtor  side,  because  it  is  a  sum  received. 

Q.  Is  there  a  Cash  receipt  to  be  given  for  this  $100? 

A.  77iere  is,  because  Samuel  Rice  wants  something  as  a  voucher. 

Q.  What  is  the  form  of  this  receipt! 

A.  See  Receipt  5,  p.  88. 


<^m^i^c/icn  2§ ^nuoMy  2d. 

^^u ,.  aJ.  a^  /^  ^«.£/./%^  /^^/.«y^  *^^r.f :  r^^   '  ^ 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


29 


Q.  How  is  this  transaction  to  be  entered! 

A.  See  Day -hook,  p.  44. 

Q.  Wliy  debit  Expense  and  credit  Cash  ? 

A.  Because  Expense  Account  is  the  receiver  (i.  e.   so  mttch  has 


been  charged  to  Expense  Account),  or  because  it  is  considered  a  loss 
in  doing  business^  and  Cash  is  the  thing  delivered. — (Apply  Rules 
2  and  3.) 


&mndac//an  2p ^maa^^  2d . 


Q.  How  is  this  transaction  to  bo  entered  ? 

A.  See  Day-book,  p.  44. 

Q.  Why  debit  Ca.sh  and  Interest,  and  credit  Bills  Receivable  ? 

A.  Because  I  have  received  Cash  and  Interest,  or  Interest  re- 
ceives the  benefit,  and  delivered  BiUs  Receivable  {viz.,  Amasa 
I/all's  Acceptance). — (Apply  Rule  2.) 

Q.  What  would  be  Amasa  Hall's  entry? 

A.  Bills  Payable  Dr.  to  Sundries $50.25 

Cash,  for  amount  paid  Edward  Martin  fob 

MY  acceptance  GIVEN  UP $50.20 

Interest,  fob  6  days'  discount  on  the  same.  . .        .05 


Q.  Why  debit  Bills  Payable,  and  credit  Cash  and  Interest  ? 

A.  Because  Bills  Payable  is  the  thing  received  {viz.,  acceptance 
of  William  Clark^s  draft),  and  Cash  and  Interest  the  things  de- 
livered, or  Interest  confers  the  benefit. — (Apply  Rule  2.) 

Q.  On  which  side  of  the  Ca.«*h-book  by  me  is  this  $50.20  to 
be  entered  ? 

A.  Debtor  side,  because  it  is  a  sum,  received. 

Q.  Is  there  a  Cash  receipt  to  be  given  in  this  transac- 
tion ? 

A.  There  is  not,  because  the  acceptance  is  given  up. 


&^andac/€an  SO ^aniioiy  2d . 


/^wc 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Day-hook,  p.  44. 

Q.  Wliy  debit  Bills  Payable  and  credit  Bills  Receivable  ? 

A.  Because  J  have  received  BiUs  Payable  {viz.,  my  own  note), 
and  Bills  Receivable  {viz.,  Henry  Daniels^  note)  is  the  thing  deliv- 
ered.—{Ax>p\y  Rule  2.) 

Q.  What  would  be  Henry  Daniels'  entry  ? 

A.  Bills  Payable  Dr.  to  Bills  Receivable $50.00 

Fob  having  given  up  to  Edward  Mar- 
tin the  Note  I  held  against  him,  and 


RECEIVED    OF    HIM    A    NoTE    WHICH    HE 

held  against  ME  FOR  SAME  AMOUNT $50.00 

Q.  Why  debit  Bills  Payable  and  credit  Bills  Receivable  ? 

A.  Because  BiUs  Payable  {viz.,  his  own  note)  is  the  thing  re- 
ceived, and  BiUs  Receivable  {viz.,  EduHird  Martin's  note)  is  the 
thing  delivered. — (Apply  Rule  2.) 

Q.  Why  is  this  a  bill  payable  ? 

A.  Beca'ise  it  is  due  from  me  to  another. 

Q.  Why  is  this  a  bill  receivable  ? 

A.  Because  it  is  due  from  another  to  me. 


G 


•  (iJ 


80 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


Q.  How  is  this  transaction  to  be  entered  ? 
A.  tke  Day-book,  p.  44. 

Q.  Why  debit  Profit  and  Loss,  and  credit  Bills  Receivable  ? 
A.  Because  I  have  met  ^oith  a  loss,  and  Bills  Receivable  {viz., 
Henry  DoolittUa  noU)  is  the  thing  delivered.— {K^^\y  Rules  3 

and  2.) 

Q.  What  would  be  Henry  Doolittle's  entry  ? 


A.  Bills  Payable  Dr.  to  Profit  and  Loss $18.04 

For  having  received  mv  Note  of  Ed- 
ward Martin,  being  unable  to  pay  it,  $18.04 
Q.  Why  debit  Bills  Payable,  and  credit  Profit  and  Loss? 
A.  Becawtr  Bills  Payable  {viz.,  H.  Doolittle's  note)  is  the  thing 
received,  and  the  note  given  up  shows  the  amount  of  gain.— {A.-[>^\y 
Rules  8  and  2.) 


(^ianJac/mn  32 ^nuiPiy  2 p. 


g/  i(^r^e    ^a/^e?.  u/i  an   o^  G4o^.   ^low  c/u^,  ^/^  ayae,iJ^  .n^  /!y  Jkfn^J     Wailen  Jf   ^C 

n^t^,,  on  //ee  4^  c^iJ^anl ;    a?noun^,   ^0(?  c/o//<ti^ ;    a?iJ  i^^ne  </[^'i^n  /4e,n  a  neu>  Q4^c^^ /ol  SOO 

^^^U,   ou  <^..u.nc/,  une/.ny  dla/t  u^  J  mon/4^    on    ^/^^^^   <2^W/J-   ^o.,   acc^/^U^  ft  ^^ 

^u/:^nc^,   Ucvd<:^  S(?^  c/o//^^i.K   un./  Aa^.e /.a.'c/  ^a^A /ol  //^  amoecne  o/ cn/^Uat  on  ^  nwn^dj' 


Q.  How  is  this  transaction  to  be  entered,  the  draft  not  having 
been  entered  ? 

A.  See  I>ay-boolc,  p.  45. 

Q.  Why  debit  Bills  Payable,  and  credit  Bills  Payable  and 
Charles  Smith  &  Co.  ? 

A.  Because  I  have  received  Bills  FayabU  {viz.,  my  old  note 
taken  vp),  and  Bills  Payable  {viz.,  my  mw  note)  ami  Charles 
Smith  db  Oo.'s  acceptance  of  my  draft  are  the  things  delivered,  or 
bicause  C.  Smith  db  Co.  confers  the  be nejit.— {Api>]y  Rule  2.) 
Q.  What  would  be  James  Warren  &  Co.'s  entrj-? 

A.  Bills  Receivable  Dr.  to  Bills  Receivable $600.00 

For  Edward  Martin's  Note  on  de- 
mand, FOR $300.00 

Fob  his  draft  on  Charles  Smith  & 

Co.,  at  2  MONTHS    from   DATE,  IN  PAY- 
MENT FOR  OLD  Note  given  up $300.00 

Q.  Why  debit  Bills  Receivable  and  credit  Bills  Receivable  i 
A.  Because  Bills  Beceivable  {viz.,  Edward  Martin's  note  and 
his  draft  on  Charles  Smith  <t  Co.)  are  the  things  received,  and 
Bills  Receivable  {viz.,  Edward  Martin's  note)  is  the  thing  deliv- 
ered.—{A^^ly  Rule  2.) 


Q.  What  would  be  Charles  Smith  &  Co.'s  entry  when  the 
draft  was  presented  *. 

A.  Edward  Martin  Dr.  to  Bills  Payable $300.00 

For  our  acceptance  of  his  draft,  at 
2  months  from  date,  in  favor  of 

James  Warren  &  Co $300.00 

Q.  Why  debit  Edward  Martin  and  credit  Bills  Payable  ? 
A.  Because  he  receives  the  benefit  of  our  acceptance  of  his  draft 
given  to  James  Warren  &  Co.,  and  Bills  Payable  {viz.,  our  ac- 
ceptance of  his  draft)  is  the  thing  delivered.— {Ai>ii\y  Rule  2.) 


Transaction  32. — Second  Part. 

Q.  Why  debit  Interest  and  credit  Cash  ? 
A.  Because  Interest  is  t/te  thing  received,  or  receives  the  benefit, 
a  fid  Cash  is  the  thing  delivered.— {A^iAy  Rule  2.) 
Q.  What  would  be  James  Warren  &,  Co.'s  entry  I 

A.  Cash  Dr.  to  Interest $3.00 

For  amount  received  of  Edward  Martin, 
FOR  2  months'  Interest  on  Charles 
Smith  &  Co.'s  draft $3.00 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


31 


Q.  Why  debit  Cash  and  credit  Interest  ? 

A.  Because  C<ish  is  the  thing  received,  and  Interest  the  thing 
delivered,  or  confers  the  benefit. — (Apply  Rule  2.) 

Q.  What  is  the  form  of  new  note  given  ? 

A.  See  Note  8,  p.  80. 

Q.  Why  is  this  a  payable  note  ? 

A.  Because  it  is  due  from  m^  to  another. 

Q.  What  is  the  form  of  draft  given  ? 


A.  See  Draft  2,  p.  81. 

Q.  What  must  James  Warren  &  Co.  do  with  this  draft  in 
order  to  get  the  money  ? 

A.  Write  their  nam^s  on  the  back,  which  is  called  indorS' 
ing  it. 

Q.  On  which  side  of  the  Cash-book  by  me  is  this  $3  to  bo 
entered  ? 

A.  Credit  side,  because  it  is  a  sum  paid  out. 


Q.  How  is  this  transaction  to  be  entered  i 

A.  See  Day-book,  p.  45. 

Q.  Why  debit  Thomas  Chase  and  Daniel  King  &  Co.,  and 
credit  Cash  ? 

A.  Beaiuse  they  are  the  receivers,  and  Cash  is  the  thing  delivered. 
—(Apply  Rule  2.) 

Q.  What  would  be  Thomas  Chase's  entrj'  ? 

A.  Cash  Dr.  to  Edward  Martin '. $370.00 

For  amoun-t  received  in  full $370.00 

Q.  Why  debit  Cash  and  credit  Edward  Martin? 

A.  Because  Cash  is  the  thing  received,  and  Edward  Martin  is 
the  deliverer. — (Apply  Rule  2.) 

Q.  What  would  be  Daniel  King  «fe  Co.'s  entry  ? 


A.  Cash  Dr.  to  Edward  Martin $200.00 

For  amount  received  in  full $200.00 

Q.  Why  debit  Cash  and  credit  Edward  Martin  ? 

A.  Because  Cash  is  the  thing  received,  and  Edward  Martin  it 
the  deliierer. — (Apply  Rule  2.) 

Q.  On  which  side  of  the  Cash-book  by  me  is  this  $370  and 
$200  to  be  entered? 

A.  Credit  side,  because  they  are  sum^s  paid  out. 

Q.  Is  there  a  Cash  receipt  to  be  given  or  received  in  this 
transaction? 

A.  There  is,  because  E.  Martin  wants  something  for  a  voucher. 

Q.  What  is  the  form  of  Cash  receipts  in  this  transaction  ? 

A.  See  Receipts  6  and  7,  p.  88. 


I 


^aMJic^    c/ua    ffi^    on  u?t    ou/    (3^To/e    zonccn  QJ^  nou/  a^!^zc/u>/^  n^,?n  o/^  ^(?t?  (/o^uii<>,   afu/  Iccccz^^a 
ccuXn  fol  //^  cn^i^^  on  //^    G4(C>te  aive?i  /    a/7?ioun^,  J'  c/otM/i^. 


Q.  How  IS  this  transaction  to  be  entered  ? 
A.  See  Day-Book,  p.  45. 

Q.  Why  debit  Bills  Receivable  and  credit  Bills  Receivable  ? 
A.  Because  I  have  received  Bills  Receivable  {viz.,  Samuel  Rice's 
new  note),  and  delivered  Bills  Receivable  {viz.,  Samuel  Rice's  old 
uvte). — (Apply  Rule  2.) 

Q.  What  would  be  Samuel  Rice's  entry  ? 

A.  Bills  Payable  Dr.  to  Bills  Payable $200.00 

For  new  Note  given  to  Edward  Mar- 
tin, AT  2  months  from  date,  to  take 
UP  balance  on  old  Note $200.00 


Q.  Why  debit  Bills  Payable  and  credit  Bills  Payable?      . 

A.  Because  Bills  Payable  (viz.,  my  old  note)  is  the  thing  re- 
ceived, and  Bills  Payable  {viz.,  my  new  note)  is  the  thing  deliv- 
ered.— (Apply  Rule  2.) 


Tkaxsactiox  34. — Second  Part. 

Q.  WTiy  debit  Ca.sh  and  credit  Interest  ? 

A.  Because  Cash  is  the  thing  received,  and  Interest  is  the  thing 
delivered,  or  confers  the  benefit. — (Apply  Rule  2.) 
Q.  What  would  be  Samuel  Rice's  entry  ? 


32 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


$2.00 


A.  Interest  Dr.  to  Cash  

Fob  amount  paid  Edward  Martin,  fob  2 
months'  interest  ox  new  Note  given.  . .  $2.00 
Q.  Why  debit  Interest  and  credit  Cash? 
A.  Because  Interest  is  the  thing  received,  or  receives  the  benefit^ 
and  Gash  is  the  thing  delivered. — (Apply  Rule  2.) 

Q.  What  is  the  form  of  new  note  received  from  Samuel  Rice  ? 


A.  See  Note  18,  p.  78. 
Q.  Why  is  this  a  receivable  note  I 
A.  Because  it  is  due  from  another  to  me. 
Q.  On  which  side  of  the  Cash-book  by  me  is  this  $2  to  be 
entered  ? 
A.  Debtor  side^  heoaute  it  is  a  turn  received. 


(^^ui^nJoc^n  SS ^^nuaiu  S/ , 


lu 


440  (/o/i^i^,  /uiyczdd  al  ^/^//i^   ^an^,  in,  ^l^ fuiytnen^ ^l  amount  c/uc  ^dcTn,    arte/  ca^, 
<SOO  c/o/^iJ,  ^  /Ad^nce  ^ncc'i  account  cft  /uic. 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Day-booh,  p.  46-. 

Q.  Why  debit  Charles  Smith  &  Co.,  and  credit  Bills  Pay- 
able and  Cash  ? 

A.  Because  Charles  Smith  d  Co.  are  the  receivers,  and  Bills 
Payable  {viz.,  my  note)  and  Gash  are  the  things  delivered.— {A^- 

ply  Rule  2.) 

Q.  What  would  be  Charles  Smith  &  Co.'s  entry? 

A.  Sundries  Dr.  to  Edward  Martin |740.00 

Bills  Receivable,  for  his  Note  at  4 

MONTHS  from  date,  IN  PART  PAYMENT 

for  amount  due $440.00 

Cash,  for  amount  received  to  bal- 
ance  ACCOUNT 300.00 


Q.  Why  debit  Bills  Receivable  and  Cash,  and  credit  Edward 
Martin  ? 

A.  Because  Bills  Receivable  {viz.,  Edward  Martin's  note)  and 
Cash  are  the  things  received,  and  Edward  Martin  is  the  deliverer. 
—(Apply  Rule  2.) 

Q.  What  is  the  form  of  note  given? 

A.  See  Note  9,  p.  80. 

Q.  Why  is  it  a  payable  note  on  my  part? 

A.  Bfcame  it  is  due  from  me  to  another. 

Q.  Is  there  a  Cash  receipt  to  be  given  in  this  transaction  ? 

A.  There  is,  because  it  is  a  sum  paid  infuUj  and  I  want  some- 
thing for  a  voucher. 

Q.  What  is  the  form  of  this  receipt? 

A.  See  Receipt  8,  p.  88. 


^mn-jac^an  S^ (Sranaaty  S/ . 

Mececi^ec/  c/   ^^^^    Wc'ny<xfon    a   ^t4a?aay   o/  Q^U>f(ana^,  a^  ^l    ^i//  o/  ,Sf<^,  in 
/u//^l  /ci>    Q4^oteyiufin  u/i.  o/  ffd,  ,^^0  c/^/^U. 


Q.  How  is  this  transaction  to  bo  entered  I 
A.  See  Day-book,  p.  46. 

Q.  Why  debit  Merchandise  and  credit  Bills  Receivable  ? 
A.  Because  I  have  received  Merchandise,  and  delivered  Bills 
Receivable  (viz.,  William  Kingston's  note).— (Apply  Rule  2.) 
Q.  What  would  be  William  Kingston's  entry  ? 

A.  Bills  Payable  Dr.  to  Merchandise $290.00 

For  amount  goods  delivered  Edward 


Martin,  in  full  for  my  Note  given 

UP  OF  11th $290.00 

Q.  Why  debit  Bills  Payable  and  credit  Merchandise  ? 
A.  Because  Bills  Payable  {viz.,  his  own  note)  is  the  thing 
received,  and  Merchandise  is  the  thiruj  delivered. — (Apply  Rule 

2.) 

Q.  What  is  the  form  of  this  bill  merchandise  ? 

A.  See  Bill  16,  p.  89. 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH, 


83 


(Q/iuindac/ion  Sy ^niio^  S/ , 


Q.  How  is  this  transaction  to  be  entered  ? 
A.  See  Day-book,  p.  46. 

Q.  Why  debit  Bills  Payable  and  credit  Merchandise  ? 
A.  Because  I  have  received  Bills  Payable  {viz.,  my  own  note), 
and  delivered  Merchandise  for  tJie  same. — (Apply  Rule  2.) 
Q.  What  would  be  James  Warren  &  Co.'s  entry? 

A.  Merchandise  Dr.  to  Bills  Receivable $300.00 

Fob  goods  beceived  of  Edwabd  Mab- 

TIN,  as  FEB   BILL  OF  3l8T,  FOR  WHICH 


i  have  delivered  in  payment  his 

Note $300.00 

Q.  Why  debit  Merchandise  and  credit  Bills  Receivable  ? 
A.  Because  Merchandise  is  the  thing  received,  and  Bills  Receiv- 
able {viz.,  Edward  Martin's  note)  is  the  thing  delivered. — (Apply 
Rule  2.) 

Q.  What  is  the  form  of  this  bill  merchandise  ? 
A.  See  Bill  17,  p.  90. 


(Q/mnJoc/ioLn  So ^znciatu  S/ . 

Qy  nav^   aiuen    ^a^f^n    'Syoot/mJ    7nu    CyicCci   on      froodrnan 
c^anaidc,   -to  ^nc  amou7i€^  o/^  ^7^'  tcAuicn  ii^  fitiea  -t/iii}  day. 


UfonJ^,  acccAted  ^t    ^^^Cct- 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Day-book,  p.  46. 

Q.  Why  debit  Calvin  Holmes  and  credit  Woodman  Brooks  ? 

A.  Because  Calmn  Holmes  receives  the  benefit  of  my  order,  and 
Woodman  Brooks  is  the  deliverer  of  Merchandise  to  the  amount  of 
order,  or  confers  the  benefit. — (Apply  Rule  2.) 

Q.  What  would  be  Woodman  Brooks'  entry  ? 

A.  Edward  Martin  Dr.  to  Merchandise $74.00 

For  goods  delivered  C.  Holmes,  as  feb 

HIS  order $74.00 

Q.  Why  debit  Edward  Martin  and  credit  Merchandise  ? 

A.  Because  he   receives   the  benefit  {which  amount  kas  been 


charged  to  C.  Holmes),  and  Merchandise  is  the  thing  delivered. — 
(Apply  Rule  2.) 

Q.  What  would  be  Calvin  Holmes'  entry? 

A.  Merchandise  Dr.  to  Edward  Martin $74.00 

Fob  ooods  received  of  W.  Brooks,  as 

PER  his  order $74.00 

Q.  Why  debit  Merchandise  and  credit  Edward  Martin  ? 

A.  Because  Merchandise  is  the  thing  received,   and  Edward 
Martin  confers  the  benefit. — (Apply  Rule  2.) 

Q.  What  is  the  form  of  this  order? 

A.  See  Order  1,  p.  81. 


(^ian-^ac/ion  Sp ^izneiaiu  S/ . 

Q/  da^A^^  ieceiv^  a  iendtlance  o/ -rnon^u  /iom  j^niea   Q^oayoon,  in  ^uiymc/it ^<}i>  ni(>  dux^ 
in  ^v<>4,  cf  ^UaiM    Q^ii^n,   anioccnt  4^^  do^zid. 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Day-book,  p.  47. 

Q.  Why  debit  Cash  and  credit  James  Magoon  ? 


A.  Because  Cash  is  the  thing  received,  and  James  Magoon  is  tk» 
deliverer. — (Apply  Rule  2.) 

Q.  What  would  be  James  Magoon's  entry? 


i% 


INTENTIONAL  SECOND  EXPOSURE 


32 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


A.  Interest  Dr.  to  Cash |2.00 

For  amount  paid  Edward  Martin,  for  2 
months'  interest  on  new  Note  given.  . .  $2.00 
Q.  Why  debit  Interest  and  credit  Cash? 
A.  Because  Interest  is  the  thing  reeeived,  or  receives  the  benefit, 
and  Gash  is  ths  thing  delivered.— {K^\>\y  Rule  2.) 

Q.  What  is  the  form  of  new  note  received  from  Samuel  Rice  ? 


A.  See  NoU  13,  p.  78. 

Q.  Why  is  this  a  receivable  note  ? 

A.  Because  it  is  due/rom  another  to  me. 

Q.  On  which  side  of  the  Cash-book  by  me  is  this  $2  to  be 

entered  ? 
A.  Debtor  side,  because  it  it  a  sum  received. 


Q.  How  is  this  transaction  to  be  entered? 

A.  See  Day-book,  p.  46-. 

Q.  Why  debit  Charles  Smith  &  Co.,  and  credit  Bills  Pay- 
able and  Cash? 

A.  Because  Charles  Smith  dh  Co.  are  the  receivers,  and  Bills 
Payable  {viz.,  my  note)  and  Cash  are  the  things  delivered.— {At^- 

ply  Rule  2.) 

Q.  What  would  be  Charles  Smith  &  Co.'s  entry? 

A.  Sundries  Dk.  to  Edward  Martin $740.00 

Bills  Receivable,  for  his  Note  at  4 
months  from  date,  in  part  payment 

for  amount  due $440.00 

Cash,  for  amount  received  to  bal- 
ance account 300.00 


Q.  Why  debit  Bills  Receivable  and  Cash,  and  credit  Edward 

Martin  ? 

A.  Because  Bills  Receivable  {viz.,  Edward  Martin's  note)  and 
Cash  are  the  things  received,  and  Edward  Martin  is  the  deliverer. 
—(Apply  Rule  2.) 

Q.  What  is  the  form  of  note  given? 

A.  See  Note  9,  p.  80. 

Q.  Why  is  it  a  payable  note  on  my  part? 

A.  Because  it  is  due/rom  me  to  another. 

Q.  Is  there  a  Cash  receipt  to  be  given  in  this  transaction  ? 

A.  There  is,  because  it  is  a  sum  paid  in/uU,  and  I  want  tome- 
thing/or  a  voucher. 

Q.  What  is  the  form  of  this  receipt  ? 

A.  See  Receipt  8,  p.  88. 


(^lanmc/^n  S^ ofanaazy  J*/. 

/u//^l  /^    04i^^e^uen  u/,  o/  iT/d,   ^^  do//^iJ. 


Q.  How  is  this  transaction  to  be  entered  ? 
A.  See  Day-book,  p.  46. 

Q.  Why  debit  Merchandise  and  credit  Bills  Receivable  ? 
A.  Because  I  have  received  Merchandise,  and  delivered  Bills 
Receivable  {viz.,  William  Kingston's  note).— {Apply  Rule  2.) 
Q.  What  would  be  William  Kingston's  entry  ? 

A.  Bills  Payable  Dr.  to  Merchandise $290.00 

For  amount  goods  delivered  Edward 


Martin,  in  full  for  my  Note  given 

UP  of  llTH $290.00 

Q.  Why  debit  Bills  Payable  and  credit  Merchandise? 
A.  Because  Bills  Payable  {viz.,  his  own  note)  is  the  thing 
received,  and  Merchandise  is  tJie  thing  delivered.— {Apply  R"le 

2.) 

Q.  What  is  the  form  of  this  bill  merchandise  ? 

A.  See  Bill  16,  p.  89. 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


33 


(^Jiandac/ibn  S/ ^naa^  S/ , 


(MY:/  Jurn<^    "WoM^?.  J*  ^o.    ^   ca^^  o/  ^a^^nele,,    /J'  /.;^,  ^40  fo^,  «^   ^    ^^* 


Q.  How  is  this  transaction  to  be  entered? 
A.  See  Day-book,  p.  46. 

Q.  Why  debit  Bills  Payable  and  credit  Merchandise  ? 
A.  Because  I  have  received  Bills  Payable  {viz.,  my  own  note), 
and  delivered  Merchandise  for  tJte  sarne.— {Apply  Rule  2.) 
Q.  What  would  be  James  Warren  &  Co.'s  entry? 

A.  Merchandise  Dr.  to  Bills  Receivable $300.00 

For  goods  received  of  Edward  Mar- 
tin, AS  PER  BILL  OF  3l8T,  FOR  WHICH 


i  have  delivered  in  payment  his 

Note $300.00 

Q.  Why  debit  Merchandise  and  credit  Bills  Receivable  ? 
A.  Because  Merchandise  is  the  thing  received,  and  BUls  Receiv- 
able {viz.,  Edward  Martin's  note)  is  the  thing  delivered.— {Apply 
Rule  2.) 

Q.  What  is  the  form  of  this  bill  merchandise  ? 
A.  See  Bill  17,  p.  90. 


. 


(^mn^ioc/i^n  S8 ^znaaiy  S/ . 

-.4a-nJo<^,  ^  ^de  amount  o^  j^ 7 4-,  wdt^cd  c^  ^Yi^  ^du)  c^y. 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Day-book,  p.  46. 

Q.  Why  debit  Calvin  Holmes  and  credit  Woodman  Brooks  ? 

A.  Because  Calvin  Holmes  receives  the  benefit  of  my  order,  and 
Woodman  Brooks  is  the  deliverer  of  Merchandise  to  the  arnount  of 
order,  or  confers  the  benefit.— {Apply  Rule  2.) 

Q.  What  would  be  Woodman  Brooks'  entry  ? 

A,  Edward  Martin  Dr.  to  Merchandise $74.00 

For  goods  delivered  C.  Holmes,  as  per 

his  order $74.00 

Q.  Why  debit  Edward  Martin  and  credit  Merchandise  ? 

A.  Because  he   receives    the  benefit  {which  amount  has  been 


charged  to  C.  Holmes),  and  Merchandise  is  the  thing  delivered. — 
(Apply  Rule  2.) 

Q.  What  would  be  Calvin  Holmes'  entry  ? 

A.  Merchandise  Dr.  to  Edward  Martin $74.00 

For  goods  received  of  W.  Brooks,  as 

per  his  order $74.00 

Q.  Why  debit  Merchandise  and  credit  Edward  Martin  ? 

A.  Because  Merchandise  is  the  thing  received^  and  Edward 
Martin  confers  the  benefit. — (Apply  Rule  2.) 

Q.  What  is  the  form  of  this  order? 

A.  See  Order  1,  p.  81. 


(^zan^ac^ian  Sp ^anuaiy  S/ . 

Of/UM^  i^ceciA^du  Wm^lcinc^  o/ 9no7u^y /u>ni  J^nuO   Q^/ayoon,  en /uiy^n^ /^l  4^  </i^/t 
in  ^zoAoi  o/  ^/tai,/^    Q^/d^n,   am&a^rU  40Cf  G^o^^. 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Day-book,  p.  47. 

Q.  Why  debit  Cash  and  credit  James  Magoon? 


A.  Because  Cash  is  the  thing  received,  and  James  Magoon  is  th* 
deliverer. — (Apply  Rule  2.) 

Q.  What  would  be  James  Magoon's  entry  ? 


;> 


5; 


A.  Edward  Martin  Dr.  to  Cash $400.00 

For  paid  him  m  full,  for  his  accept- 
ance    OF    MY     DRAFT     IN     FAVOR    OF 

Charles  Allen $400.00 

Q.  Why  debit  Edward  Martin  and  credit  Cash  ? 
A.  Because  Edward  Martin  is  the  receiver ^  and  Cash  is  the 
thing  delivered. — (Apply  Rule  2.) 


Q.  What  is  the  form  of  this  Cash  receipt! 
A.  See  Receipt  9,  p.  88. 

Q.  On  which  side  of  the  Cash-book  by  me  is  this  $400  to  be 
entered  ? 
A.  Debtor  side. 
Q.  Why? 
A.  Meoause  it  is  a  sum  received. 


Qf4a^  Uce^i^  ^ai^4  o/  ^oine^'u^    "W^Umati,  ift^^;    amount,  ^OO  t/a/Haia. 


@^; 


«^ 


Q.  How  is  this  transaction  to  be  entered  ? 

A.  See  Day-hooiky  p.  47. 

Q.  Why  debit  Cash,  and  credit  Cornelius  Whitman  and  Cal- 
vin Holmes  ? 

A.  Became  Cash  is  the  thing  received,  and  OomeUtis  Whitman 
and  Calvin  Holmes  are  the  deliverers.— {AY>ply  Rule  2.) 

Q.  What  would  be  Cornelius  Whitman's  entry? 

A.  Edward  Martin  Dr.  to  Cash $200.00 

For  paid  him  in  full $200.00 

Q.  Why  debit  Edward  Martin  and  credit  Cash  ? 

A.  Became  Edtoard  Martin  is  the  receiver,  and  Cash  the  thing 
ddivered. — (Apply  Rule  2.) 

Q.  What  would  be  Calvin  Holmes'  entry  i 


A.  Edward  Martin  Dr.  to  Cash $74.00 

For  paid  him  in  full $74.00 

Q.  Why  debit  Edward  Martin  and  credit  Cash  ? 

A.  Because  he  is  the  receiver,  and  Cash  the  thing  delivered. — 
(Apply  Rule  2.) 

Q.  What  is  the  form  of  the  Cash  receipts  given  in  this 
transaction  ? 

A.  See  Receipts  10  and  11,  p.  84. 

Q.  On  which  side  of  the  Cash-book  by  me  i«  this  $274  to  be 
entered  ? 

A.  Debtor  aide. 

Q.  Why? 

A.  Because  it  is  a  sum  received. 


J 


f 


4' 


i        \ 


86 


PRACTICAL    BOOK-KEEPING    FOU     YOUTH, 


,.::^ucuna/on,      la/nfaiu  /,  fS^(0O. 


(^y^/an^a^/ion   / . 


4 

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^ 


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om- 


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^ 
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cf 


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40 


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PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


37 


j::^uzuna^on,   J^anuazu  S,  /o<SO, 


d 


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^add  .^i,.  /o    Q^d^i-cddMide^ 

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cuzya  /l07rt  <za^,  cfz  ^.a-y?nen/^  ■foi'  a.oo<d*  dotMid^  od 
^dcm,   aa  /i^i,  dc'df  od  S(d 


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PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


8 


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4 


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^au:^n,   /ol  afnou/i^  AuccC  ncni  on  czccou?i^. 

_^«f  i^  J^i^zya^^,  ^i,  7ny  G4^^,  a^  SO  c/ay<f  /i/>Tn  c/a^, 

en  A<zt^ ^^yntc?i^  ■foi'  aoocut 

..^/dauz^nce  4?  i,tcn  cf  'mon€na. 


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<S  fnon'^/u>  /^-iOTn   c/ci/^,   c'n  A-ci^^ ^fAX^'U'me?z^ ^i. 


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PRACTICAL    BOOK-KEEPING    FOK    YOUTH. 


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PRACTICAL  BOOK-KEEPING  FOR  YOUTH. 


43 


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— ^/ 


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Note. — Some  may  think  the  Balance  account  of  no  use,  and  would  recommend  the  practice  of  balancing  the  accounts  in  the 
Ledger  itself,  without  the  trouble  of  making  entries  upon  the  Day-book  ;  but  as  I  wish  to  have  nothing  appear  in  the  Ledger, 
without  its  being  first  entered  in  the  Day-book,  and  wishing  to  have  some  system,  I  shall  adopt  this  as  a  rule.  It  also  shows  a 
Trial-balanco  of  the  accounts  on  closing  and  reopening  the  Books.  If  the  accounts  which  are  closed  by  Balance  are  to  be  con-  i 
tinued  in  the  old  Ledger,  the  balances  are  to  be  brought  down  and  entered  to  or  hy  Balance.  If  to  be  transferred  to  a  new  ^ 
Ledger,  they  are  to  be  closed  to  or  hy  Balance,  Ledger  B  ;  and  the  accounts  thus  transferred  to  the  new  Ledger,  to  or  hy  Balance, 
Ledger  A. 


52 


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&a'jM. 


y  G/o   Q^//oc/t,   €r/notfn^  Oft.  ^nc^  c'nveatt^  en  /^Uu^ 

,,     Qya^  o/   C^Crwdanc/tAe  ^/,(!ia  c/ciy 

,,  (^4o?naa  ^fdc^ffey,  i^k^ef't^e^/ en  /it/i^ /o^  Q^icdu?i(/cat 

/<r     ,.     .W^r/^    .W*^r,f'?Acid/e  on   ^4,n.    ^ooA.'a  acc^/i^?ic^ 

/,       ,.     ^Su/tie'n  (^Ca^M-i..  on  ac4:wtnt. 

-?-?j  „     J^M  ^eceefAu/^^   on    ^anie<>   (^ne^^d'a    04^ 

"    i   //      ^oi-n^tce4^     /rnctniun,   on  uccou/i^^. 


S^4 

fJ7 
/4^ 


£<z^jf 


S^cd. 


-^^  <?y<?  Q^rnotm^  on  danc/ 

,.     ^t/i^    ^MgciftV.tf^^e,     irc^e'r-ec/  o/  ^^meie/ ^^    on 

Q4^o^e 

,,     J^c^     .jMr^c^c'fMz^/e,     Ificee'tAec^   o/  Q^^na^ta>    (S^^'a 

ucc^/z/cince 

,,     S/n/ifi^^,   leicf'nec/  o/  Q9aniefe^ ^^^cce^  on  neta  G4i>^ 

tp     J^nieJ    Q^'j^a^oon,    igcetvec/  o^  dent  C7t  dtcdf. 

,,      '^olne/cfi^    //dc^9nun,     ,,  ,,         ,,  ^^ 

„     ^u/oc'n  fSTCo^fnea,  „         ,, 


^t^ 


cf/ 


/ 


<S%  .£0a^/tcc  ^tote^d^  /to^ni,  diux^  fnon^. 


74 


7^ 

0/9 


77 


/c^j^   |y/ 


/4^«^ 


/^c^4 


(?C? 


<SJ 


<^0§4 


cf.^ 


S^4^  \p7r 


PRACTICAL  BOOK-KEEPING  FOR  YOUTH 


63 


'a 


^m. 


^. 


/un. 

4 

// 

J^y  .^an.e^/  S/tM,   /<>^.    Gi^d^c^cda-ftc/car,  c'n  /tcd^. 

^dpd.ci'idkf    (^^^(ann,                    ,,       '            ,,         .,    

74 

i 

1 

1 

■             / 

1 

i            ^  - 

77 

P7 



1 

,,      ^e/iocn   ~:^£^ncotn,  antoufi^  ^uicc/  n^ni  on  a€<:ou?/t... 
,,      &/do^ncuf    '^dz^, 

Q^'^a.nncng, . 

(S/^n^i.^!d^,  a,fnoein^  /(aud  cn^i€,)t  Oft    adcue    (-i/Pot^ ,.. 
jdl^c^    .^2^ec^vcedd^,      Mcd^m    ^dz/i.d'<)     QyPote    /oi 
ccKid  Ui?i^. 

*» 

Qtramceed  cdtcng,    en  dudf ^i,    ^S^Ceicdanc/cJe. 

,,      G:''^?no€^■n^  on   niz^nce. 

-^y  Sx^ft^^eJ  Acte^d (3/^nae4,i^nce,  (^leead/^,  (^c,  ^/lea  /non^d 
,,      <3dn/^le<i^t,   Aaetd  duni€4)     JFai/i^ft  ^   ^o.   e/i^lea^   on 
m^  M^tcti^. 

^0^4 

^J 

J^n. 

0  f 

77 
J70 

,,      Q/do^naa   ^/i<k^,  ^iaete  en  ifti^^. ._ 

,,      ,^^a?ice€    ^(^^^.n^   on    '~^o.,  /eaect  e/e  dec^. _. 

^d€ilds<>   (^meld  Ji     'So.,  /ui^  f'71  deedf. 

.^0a^?ice  ccetleec/  ^  /t/^x^  ?non^d. 

^§4d^ 

d77 

Note. — In  this  Book,  all  sums  received.,  together  with  the  amount  put  into  business,  should  be  entered  on  the  debtor  side ; 
'j  and  all  sums /)au/ ow<  should  be  entered  on  the  credit  side,  and  should  be  balanced  everyday.     The  amount  of  cash  on  hand 
shoukl  always  atjree  with  the  balance  wanting  in  the  Cash-book. 


I 


•I  ! 


I 


Mi    .n 


,fj 


1 


S'i        I 


t  ' 


I  lis 

'I 


it'^ 


ri  t 


r« 


66 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


e^^  anJ  ^i//<f 


DaU 

• 

A'o. 

/^^^. 

G4^otA. 

/ 

/ 

p  f 

fif^:? 

J' 

/(%?. 

J^... 

cf 

cf 

pp 

// 

4 

»* 

f^ 

«5^ 

f  f 

/cf 

^ 

ff 

// 

7 

p* 

/# 

§ 

// 

^j> 

^ 

/  r 

// 

ifO 

f  / 

tr 

if:f 

/  * 

^4 

/J* 

*  f 

cf/ 

/cf 

»  f 

// 

/4 

f  > 

^ 

/^ 

From  whom  Rectived. 


^a€uc/t  (^Laaai 

ff              f>        --- 
&^^n,u^ .^^tce^ 


To  whom  Payable. 


0<Ao<zu/  (^^^^a^^ 


•ri 


S<AiACH^    (S^^M4^i 


n 


Whtrt  Piiytthif. 


.^Uftd  o/  .2l^ui^'n^^9t 


ft  // 

Q^^U>^un/i>  ^^an4. 

Moa^n,    Q^^^ 

Q//^icnan^  j2oan4. 

,,  /,        ..... 


Moo/i> 


n. 


On  what  AeooutU. 


(S^^^e^onunc^eae 

G^^Ce4>cn<tna<ae 

,,  ...... 

f  f  ...... 

f,  ... ... 

, ,  

^a^n   <^z^n.^ 

(5^^^tcnan</cAe 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


67 


^Lecetz^a^^, 


Tim^. 


4  tnorUda. .  /§<^^. 


Year. 


S 


<SO     ,,      ... 

SO    „     .. 


Wflli^Due. 


Amount. 


/ 


Q^^. 


Q^i. 


/^ 

J*/ 

^4 


400 


700 


^^ 
>^00 

400 

JO 
JO 
JO 

^00 
^00 
soo 


00 
00 


00 


04 

00 
00 
00 
00 
00 
00 
^0 
^J 
00 
00 
00 
00 


Partial  Payments. 


^n,.  £4..\   fOO 


00 


Remarks. 


i>fi7ie 


.  Jf. 


J^l^zus^  dy  "Soon, 


,,      /cS 


Note.— The  total  amount  of  vmpaid  Notes  due  on  the  Bills  Eeceivable  Book  should  always  agree  with  the  balance  due  on  the 
Ledger  with  the  same  accjount. 


Baxanck  duk  on  Ledgeb 

Balance  due  on  Biu-s  Receivable  Book. 


$1200.00 
1200.00 


'I' 


If 


li 


w  ''^ 


I"  It 

III    i^ 

I 


!  . 


a 


■1  ( 


, 


m*  H  rJ 


if! 

11! 


!  I 


i 


•i.  J 


M 


70 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


GJVi>/^  am/  ^c£ 


DaU. 

No. 

To  whom  Payable. 

By  whom  Drawn. 

Where  Payable. 

On  what  Account. 

If§^§. 

Q4i^t.. 

/ 

/ 

(SS^.    G^^^fiTtc'ria 

Si/iMzi^  (Qy^Uit^in. 

..^j^unn,   o^ .^i^ulu^'na^Ti 

J^o<fd  O^ccoun,^... 

f^o^. 

J^''- 

4 

s 

/:  Jfc^Uen^  ^o. 

Sc/u^uic^  Qi^^>A 

J^Ouu^  &/  JjM^ui>^n^[^?i 

Q>/Ccl<>na?K/cafi 

// 

^ 

^ 

^^i^  ©^^/*^.. 

*'               /* 

»»                             f» 

//               ..._•_ 

// 

// 

4 

^anuj  '^azm. 

't              tt 

f»                             »» 

//                                  .....a 

tf 

/J' 

^ 

Sc/to^/t  c^£<'nc<^n.... 

//               // 

"                             t* 

t  f                                 --•••• 

tf 

^^ 

^ 

^4ui^  Q^/i^?i.... 

J^nie^  G^^uia/>o?i 

't                                           r» 

^.^^^Uca,oon,cActd^ 

// 

^4 

7 

(^^enly  ,^^anceS.. 

Si/uMi/U/  Q^^i^n 

/'                                            // 

McM  M^cc<:ucJ^. 

// 

S^ 

^ 

^(zitnea    /fu  hie^i . . . 

ft              // 

^.  <Q^a4^-n'a  ^^ 

^<:/^  M^ya^^ ... 

/» 

S:f 

J^ 

^  (Mnad^  <^o. 

rt                           tf 

^u//a/d  ^'l  Maaton 

J^ood  Q'uccofi/t^... 

PRACTICAL    BOOK-KEEPIN(^    FOR    YOUTH. 


71 


':^uame. 


aui 


Time, 

Year. 

When  Due. 

Arrumnt. 

Partial  Payments. 

Remaric*. 

^  fnon.'^na.. 

/c^^. 

^tt. 

/ 

^SK^ 

{?^ 

M/.  A^  '^rrA/f,  J^»..   /^. 

^4    f^UUit,.. 

// 

^<Ztl. 

£§^ 

<^Cf6f 

OO 

4  tnonlnj.. 

// 

©^y 

// 

^6^6^ 

O^ 

u  mv?i^uj.. 

/  f 

Ju/y 

^4 

>^oo 

OO 

<^^  c/^u^... 

^  f 

c?^^ 

/4 

3<? 

06^ 

/^   ,.   - 

f  * 

/  # 

/ 

400 

OO 

^o    

»  0 

/  • 

£^ 

^(? 

OO 

^^^tcinec/,  ^a.?i.  ^^. 

S^e//ia,/hf/. 

// 

St?o' 

(?(? 

^^.AuQy^i^,4,z7u/e:a^,  Ezn.Jf. 

4  -rnon^/u).. 

/  / 

(^y^ca?/ 

^/ 

44C? 

OO 

Note. — The  total  amount  of  unpaid  Notes  due  on  the  Bills  Payable  Book  should  always  agree  with  the  balance  due  in  the 
Ledger  with  the  same  account. 

Baxance  on  the  Ledger $1290.00 

Balance  ox  the  Bills  Payable  Book 1290^'^ 


ffi: 

I' 
1 1 

1 1 


Mi 


Hi 


72 


PRACTICAL    BOOK-KEEPING    FOU    YOUTH. 


O/iia/  ,£Sa/ance,  /or.   J(anua/.u  Sf^  foS^* 


Paje. 


2 
4 

4 


^ 


2%^/. 

^<zan 

.^<f<^  .^^^C^'lAiZ^^ 

J^c/u  .^:jui?^d^ 

(^^oei^ncirKZcac 

Syn^lK^y^. 

Mo/c^  Sf  ,2Sa/> 

Sx/ien^>^ _. 

.^Ij^u't^a/a^  Gzcc&un^. 

^ci?ncJ  &'/?ictu. 

^^olnetcuj    /rnctfriaTi 

o/noTTiaJ    ^/uue 

j^a^neJ   ^'^^'^ui/i<fort 

^-GPa-ti^c/t    &^a-a^2i, 

Satoc/t   c^zk-?ico€/t 

7ioaci/na?t  .l^^ieton^ 

^a/iAt/h  <3^Cot/ft€i> 


^r^. 


(£/e^^/ (ZTnoun^  o/  .^ay-^ood  a<^(/c^n<> |    /drcfc^/ 


/^4^ 
^^^^ 

77 

'400 
S4^ 
470 
74^ 
4(^0 

^(?(? 

74 


/^<^^7 


^4 
04 


^^ 


^^ 


^, 


V/.d, 


^J4Cf 

9 


400 

S4^ 

470 
740 
40^ 
700 

74 
74 


if§^^7 


00 

^4 


00 

00 


^tf 


PRACTICAL    BOOK-KEEPING    FOU    YOUTH. 


73 


OAta/  ^a/a?ice,jf>t  ^anuatu  Sf.  /^^. —  Secrynd  Form.) 


Page. 


(Mocd. 


(^^o^lcnaficTu*^ 

QJ^fi^lea^ 


7.d, 


^7 

04 


Zd. 


4000 


^§ 


/-^^ 


oc? 


Page. 


O^ 


<^^^{? 


00 


4 


SscA^Tid^ 


0/ 


Zd, 


77 


y^{? 


^^^/ 


§/ 


4^ 


^. 


r^/d. 


^^^{? 


4^7 
74 


^M/ 


00  i 


4^ 


4^ 


EXPLANATION    OF    THE    TRIAL    BALANCES. 


■♦*♦■ 


Thk  Trial  Balance  should  be  taken  every  month  ;  the  object  of  which  Ls  to  test  the  accuracy  of  posting.  For  this  purpose 
rule  a  sheet  of  paper,  as  in  example  given,  and  proceed  to  take  down  the  names  of  every  account  in  the  Ledger,  giving  the  page, 
with  the  amount  of  all  the  debits  and  credits  for  the  month,  or  for  the  time  for  which  the  Trial  Balance  is  taken,  and  if  the 
amounts  of  the  original  entries  have  been  correctly  posted  the  debtor  and  credit  side  will  agree  ;  and  to  prove  that  those  amounts 
are  correct,  take  the  total  footings  of  the  Day-book  for  the  given  tune,  and  if  the  work  be  correct  the  sum  will  bo  the  same  as 
the  total  amount  of  the  Trial  Balance. 

SECOND    FORM. 

This  form  of  Trial  Balance  is  simply  to  take  oflf  all  the  balances  in  the  Ledger,  t.  «.,  the  diflference  between  the  debtor  and 
credit  side  of  each  account,  as  will  be  seen  in  the  example  given  ;  and  if  the  two  sides  agree,  the  work  is  supposed  to  be  right. 
This  form  is  much  shorter,  and  is  undoubtedly  the  one  mostly  used,  and  is  the  form  taken  when  we  wish  to  close  the  Books. 
It  also  presents  at  one  view  the  total  amount  of  debts  due  you  from  others,  which  are  found  in  the  left-hand  columns  ;  and  the 
total  amount  of  debts  due  from  you  to  others,  which  are  found  in  the  right-hand  columns.     {See  example.) 


10 


li 


' 


¥. 


]: 


,<4i; 


74 


PRACTICAL  BOOK-KEEPING  FOR  YOUTH 


Q/mfen/ry^u    ..^^oon^. 


/ 
/ 
/ 

7 
/J* 


I 

^S(?0  ycti^A) ®        .^O 

„        ^^     ,,      Q/n</f\^J^^    .,         SOO        ,.  ®      f.OC? 

,S§^0  yciU^ ®  ./^ 

^aae,    /J'^^r^,   JM^i^J,  S^(?  yau/a ®  .^7 

MU.    S^^e^^ ®  ^.^^ 

^Ar^^    '^.  S^^^n  (£7eu,   ^^4  ^ ®  -^^ 

M^oxaa  /-lotofv  (2^«^^,       ^OOO    ,,   ®  O^ 

^cec^  iW^le/i^-/  ^Sa/^cnici^,    /^O  ya^U^ ®  7^ 

Qy^^^ci'  ^uj^uj,     :fOO       @  .^P 

a^/^/^e^   G>S^/fa?^/!j - ®  ^O.OO 

^^<:/^.M^t        ®  ^.OO 

^^eJ   G^^i^cna,   ^O  yulc^ - ®  -^O 

<£/o€a/  u?/iou^t  o/  ^"^y^icnuncuae 

&t?no€C7t^  o/ ^auid  o/t  dciTtc/  c'n^edlM.  

Q4^o^  „  , - 


JS7<^ 
yc?o 

^^ 
/^^ 

:fOO 
So 


oc? 
^(? 
{?o 
c?o 

c/c? 

c?o 

70 

00 
00 
00 
00 
00 


400.00 
800.00 


<^7n,ou7i^  c/ufi  /lo?/i ^<z7ned  Qy^ne^n.  t'm^cA^^ci. 400. OO 

,,  ,,        ^&i,ne^4J  ^Wn€^?nan  cm^e^^^c/,  S4<^-^^ 

o/alut  urnati-n^  c/tt^ety^i^ — 


S7OC? 
^400 


740 


\(3fn'Uocc<f  0/  Qy^lc^^ic/ot^  o^h  ^nc/  idtJ  c^ay ||  J047  \74 


00 
00 


00 


^^40 


00 


NoTK.— Each  article  of  Merchandise  should  bo  specified  with  its  quantity,  price,  and  amount,  as  above,  at  cost,  or  at  the 
present  value. 


FORMS    OF   BILLS   AND    NOTES    RECEIVABLE. 


^400.00 


{See  Note  S,  page  95.) 


/soo.oo 


(^mndac^mn  / ©^  2. 


(^mnjociwn  / ©rS<^  3. 


^y§.04 


^uld?i^7i,    ^t;  ^n4^a4y  ^,    /S^^. 


on. 


c^nunc/,  t4^d  cntclci^t        MxycJ^  cz.t  ^a?id  0/  Mui^/cny^n. 


\ 


I'  i 

I:; 

'.  ''I 

l! 


ft 


i  fj 


76 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


^mtuMc^mn  /O        .©^/;  -/. 


^^po.oo 


^ut^'na^fi,    ^^.,  ^Ttt^ly   //,    /c^^j^. 


^  m 


^^^U443/rrt    (^ctta^^n. 


^iondoOuxn   / 2 ©4^0^  S, 


J^Ot?  M^a^S^. 


^wi^ny^n.    ^^.,  ^nuaiy   f^,    /c^c^. 


(^mndoc/ion   Y-4 ^m//  ^. 


200  Ma^i^. 


Q^  ^n  cuiyd  a^fgl  a/an^,  A^^  ^  ^^  oi>(/e4,  o. 


£OC?  Mc^^. 


^mn^cu^n  // ©Va^  <^. 


;^OC?  Mo/i^ia. 


j2^ul/cny€on,    ^/.,  Jirvuuiy   /^,    /^4^. 


171 


o/ZicUy  c/ay^  Aont  c/a^.   of  yitom,t^  ^  ^y  ScZtuui^  Q^^^a^^t,  oi>  tfU^i^,  ^^^y  "Am   «6<^^, 


(^mndoc^n  20 ^m^  //. 


j^^O.S^ 


^ul4'ny^?i,    ^/.,  ^ntiaiy  ££,    f^^^. 


ariA 


qM(^/u  day4  a/^l  c/a^,  fiay  ^  ScZto<ii^  Q/^i^?t,  &l  olc^i^,  ^^y  "Aoo  t/o^ia,  t^ad^  Uc^ci^, 
</  cdaA^c  '//ic  au7fte  ^  ^ny  account.        ^^yad^  a/^  &^uj^/d  ^an.d,   ^oa^n. 


I 


;■    |: 


:l  I: 


I 


'•  ' 


i    '■' 


78 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


^mndac/ux^  2J^ ©4o/e  / 2, 


^^0.6?{? 


^ul4'?ia^7i,    ^.,  ^c^n44,<ziy  ^4,    /c^4^. 


^mn^ac/tan  S^ ©Vo^  /S, 


^SOiP.^C? 


,^/t4ltc7ia/on,    ^C//^.,  ^anuaiy  c?/,    "/(y^^. 


FORMS    OF   BILLS   AND    NOTES     PAYABLE. 


•♦♦♦• 


(Q/mmiac4ia/i   / ©^/?  / 


^^JO.OO 


Mf4i^'u^^o,f,    ^^..    Q4^0J»e7^Jei    /,    f^^§. 


PRACTICAL  BOOK-KEEPING  FOR  YOUTH. 


79 


^mnmc/i^n  ^ ©^^  2. 


^^(?0.0{? 


Mu^/cn^n,,    (^^.,  ^nu^y  4,    f^^^- 


&mndac/4hn  a ©/ro'^s  S. 


Sat(MM(Z    ^^^M<zi/ii 


n.. 


(^mndac/mn  p Q/ro^  -/. 


lo/7i>  c/a^,   (2/^  Ai^//i.c,ie  €o   Au//  ^^^/leJ    ^/ciiM,  oh    olc/el,  ^um?  fyu?i</lM  t/o^iuia, 
.:^zizua'd^  at  J^Ja?zn>  o/  ..^Sui/U7?^tof' . 


^cc/tiKx-u/  (^^^cei^/t. 


<^za/n-jac/icin   // ©r^  J. 


^<50.00 


G/ni^ttu  cui^  jflom  cuitc,    QJ^  ^ilo^fti^  to  ^uiu   S<ztoc?i,   c^z^?ico^,   ob  oloCel,  /^/^i/  c/o^kiiJ,    imz/u^ 


r 


.*     : 


m 

i 


f.  % 


m 


400  Mcy^^^. 


<^tandac/ui^  2S ©io/e  /. 


^^/?.{?C? 


O/nci^f^  c/ayJ  j^lo//i  c/u^,    Q^ ^lornuxa  ■to  ^uiy 


Sdtuai^  ^^r^i/^Tt. 


^^^uacli^n  S2 ©Va/^  §. 


^J{?^.(?^ 


^oa/^n,    £tnualy  ^,    f^J^. 


(^itandac4i^  SS ©^  ^. 


/44(^-^^ 


^o^y^ji,  ^^^t^a^  Sf,   /c^4^. 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


81 


FORMS    OF    DRAFTS. 


^t^^ 


^^OCf.6?Cf 


cual'y^  tn^  OaTn^  to  '?n.y  account. 

Sc/i4^ai^  (2^^ai>tin. 

©^^M   Mantle/ "^cTt^  Jf  ^c,   ^odton,    0^^. 


^tandac^n  S2 ^^//  2. 


<SOO  Ma/^ia. 


^ui^n^n,    <^t.,  ^Tiuaiy  ^p,    -f^^p. 


<S/t(W  97zo7it/L>  a/t&l  ctate,  ^^y  to  t^  oic^i  0/ ^a77ze<i     Wai^C7t   3^  '^o.   tu'iee  n-aTtc^i^  c/o^uiia, 
iMzui^^  i^ccccuca,   ana  ^uzce  tUe  iUiTne  to  account  o^ 

Q^^/^ia.    '^dat^!^  (^nictd  Jf  ^o.,    J^S^oaton,    Qi 


.!Mui/cnaton,    ^t.,  ^untialu  S/,    /c^^^. 

.^zi^aac  ^ay  to    "SauH^n,  ck^Co^nea  aeuc/t/ty-^wi,  aoMkz-i^.  en   (2^^tcua?ic/cae,  a?ic^  A^acc 

tm^  OaTT^tff  to  Tni^  account. 

ScCioai^  (^^vai^'n. 
_ 


*/ 


I: 


l| 


I 
1: 

I 


:i 


I   '.: 


J 

I!  I 


FORMS   OF   CASH    RECEIPTS. 

^>^ 

<^mn.iac/404i  /S !2^6ce€^  2 , 

.!^^^cec^^ec^  o/  S'c^aU:/  Qy^(aUc?f.  one  Aufii/i^e/  c/^i!a^i^,   on  accoun/^. 

(^^uindac/ian  /J .^/leceM  J, 

.^Mececv^c/  o/  ^a^'?t  <^^aal    /ctAC    4une^Uc/  </o^ia,    en,  ^laU ^yTnen^ ^h   (^^lcd<z9ic/u>c 

(^tatz.uic^n  2S ^/^€C€€^i4  ^. 

.^S^^ecect^^  0/  ^o^9ie^ua   ^^A^man  one  ^u?tc/lec/  unc/ /oi^u  c/o/fkiiJ,  on  account. 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


88 


..^jfiLecec'uec/  o/  (£ra/nvue/  j2^cce    on^    nu,n<:/i^  c^^^ia,   tudccn.  ca  ^  <^    c?rc/o>-iief/  on    ^ta    i^'/^^f 
o/  Q4^oi^emdci  SO,  /^^^. 

(^mn<iac^um  SS ^S^eceiVa  d . 

Qyno7jzaJ    "Snaa^. 

^9t/<fi,iac/4^n  SS S^iA/  /. 

if^OO.OO  ^u^cn^n,    ^V.,  Junt^^ty  ^,    /%?. 

.£^ec^iAec^  c^  Sc/iO(Zl</  ^^^Uzi-'tc7?.  ^ifM?  ^4,n(/i,ec/  c/o^^U,  tn,  /u^^. 

,^^a-nce^  c^c/ia,   J^    So. 

(^mn<iac^n  SJ (Mece^i/ § . 

^SOO.OO  Mui^y^n,    ^^V.  Junt^^^y  c^/,    /%?. 

.^^ecect^ec/  o/  Sc/mau/  'Q^^Uii^cn  -tm^e  nti,nc^iec/  i/o^A4),  cVi  /u/t  o/  a//^ c/enicen(/a  €<?  c^^. 

^iaftdac/ia^n  S p ^leceiYi/  p . 

/400.00  J^ecid-7z^on,    m.,  ^nua-ly  cf/,    /c^'. 

.^^ce^^ed  ojf  ^5z^ieJ   (^^Ma^^^n  ^ul  nu7tcAec^  oCotuii<),  c?t  ^i4zy/ne?i^ ^i,  uca  t/ui^,  ^z/uoi  &^ 
^^<zl^    &6^i(en. 


i-  ^ 


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j 


SI 


It 


I 


84 


PRACTICAL    BOOK-KEEriNG    FOR    YOUTH. 


/>^^.^^ 


}^74.^^ 


FORMS    OF    BILLS    OF    MERCHANDISE^ 


BOUGHT    AND    SOLD. 


(Q/-^/7r?J/^rr/wT?  2 


'^/, 


1/  /u^    ^u^<:cc - J^^yaic/a,   ®      .^^    ^/^ 

/       „        die.    (^^^cny S(?        .,  ®       ./cf    ^.^O 

4yua>  Uue   MlouJc^^d. @  7-^^    ^^-^^ 

^    „     Q^^/u^i^ - ®   -^^y^ ^'^^ 

£      „      /^^/^^>W^ ®     ./^   ^.^O..j40.§f 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


sr, 


/^^/    ^  S</^y4on    C^^,       §§  /^^.,    ®   Z^:?    ^/jfo 

S  ^^.  ^U^w?t  (^uyat,  ^J{?     „       @      ^ SS. {?{?.. .04.^0 


7^^  yaU^  ^lecn,  ^a/c^y @      .^/  7. ^^...^447.0^ 


^O  c^ocen,  ^Icn^i^  ,^^1^^,  @  ■/ .6?(? ^0.(?(? 

^       ,»              „         .^ct^^.  @  ,^.(^6^ ^6^.0{? 

^^         „                  ,,            ..^oto^,  @  .^^  /{P.{2^ 

^O       „        co^i^            ,,  @  .70  _._ 7.^6? 

/^         /,              ,,              O'/^^uy^,  @  .7^ y'.^C? 

fO      „       /ut^^  Q/u-Tn^^ia,  @  -/.i^O  ^,^.00 

fu^ tUi/d ^u'rUoi/ (i/ecut,  @  .^o 4.t?{?...J^74.{p{? 


-J 


:i 


li 


86  PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 

(^^n^joc/ion   ^ ^^4//^. 

/  ca^  .^i,oac/c^d,        ^^  Af^ece.i.    f^O  yatc/^,    @  S.06?   4^0.00 

/     „       ?ni^ceJ  (£/u>eeJ,    /^       ,.  ,WO       „         ®       .^6?   f^OMfK..^^OO.OO 

(^9an<iac/4€iin  / '2^4^ d . 

^ y<z4<^  S^tM^,  ^.<50      S.(^(? 

4        „         ^nrn,  ®,   .^« ^.<^-? 

/  a/.  M^,  j'/^X.,  ®.^^  y^.4e..Jff§.{?4 

(Smn^tac^n  § !SB^  7 . 

f  ca^g    ^aa4^nei^  (^i(ciu>4,      fo.  ®  ^.{?(?  f^^.OO 

/  4a^  Aou^?i   (2^^k?^>^,    ^(?(?  yau/j,  ®      ./^  ^0.0(?...^^00.00 


/  ca^iK  ^^tc^  ^a^mei^,    ^^ ^it^tic^,  ^40  ^^,   @   / .06f  J'^^.^^ 

/      »      ^U>ac^^^^,  ^.    '    „  ^O       „         @  ^.0(?  ^^0.00... ^400.00 


4^  ^^.    S^^u-i,  @  ^.00  ^4{?.0{? 

JO  yc^.     ^<^t:?nci^,    ®   f.(?C?  JO.OCf...^^pO.O{? 

(^mn^ac^€on   / / i^!^/^. 

S  4dc^.    Q/^(o^3^^eif,  400  ya^nj,   @  .^J fOO.OC? 

^Jaya ^^^^3yzA<^    ^a^^,     =f^^  ^.,  ®  .-fO  J6f.06f...^fJ0.0/7 


L'f 


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if 


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88                            PRACTICAL    BOOK-KEEPING    FOR 

YOUTH. 

^mndac/€on    /2 {^4^ / / . 

Q^^.   <£)^^7na^    ^f:^^^/tcy. 

^^.,  ^7ittaiy  f2,    /cfe^. 

-4  ^cece^    ^a^cmei^. 

^Oy  y<^t(/,>,  @   /.^«f 

f^.9.7^ 

/^       ,,        (^^n7i^/, 

^06?     „       @    .S4  

j^04.oo...f^-ss7.7^ 

SdwaU^  Qy/i^ai€ln.. 

(^«a.n^c/4^^   /^ ^^/  B. 

Qy^.    Se^tauu/  .^ati^. 

(^^.,  ^nu^ly   /cf,    /(%;. 

/  cade      '^a^umelea. 

/J*  At'/fc^a    S(?A   'ucilc/a    ®    ^ .(?0      

S04.0(? 

,^  jr^fr^cro,   c?u^  yciza^,   @ 

/  ^Aci^      (^^?i?ieS, 

/J^     „       ^(?0      „       ®     .S4  

^^4.^^ 

JS  ^i^caceJ   ^^i.oci</c/ot^.. 

S^     „        ®  S.OO  

^6?§.00...^/f:f^.CfO 

,^^ece€^cc^  /iuy7?zc7i^. 

0c/uMzu/  (^y^unt^'n. 

(^^^<i^r/4on  // ^^^/S. 

• 

S^!i,    '^Sa^cn  (3/C<z^^'i', 

^^.,  ^^^ucHy  /§,    /c^4^. 

S  ca^U4)  ^^^  ^^oe<^^?i,  SO  yi4^cca<>,   ^4^  ytzicd),   @    /.t?0 

^40.C?0 

/  ca^a  j^9zcy  o/tt^^aci. 

-fS      „       S40      „       9     .ffO  .... 

if7o.oo...^9/o.oo 

PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


89 


4 /(^cccM   ^a^tneU,     :ffO  ya^c/j.  ®      .30  33.00 

^ /itec^     ^a^t^ne^^,     ^.^       ,.  j.    /,00 £5.00.. .00.00 

(^tatMoc/ion  22 ^^YS. 

4^^u^  J^^i^^i,    ^OO  X.,  @  .33 ^33.00 

(^mndoclum  Sd ^4^ / d . 

3  ca^%ea    '^o^^e^^z  (^oae,  ^O  (/&xen,  @  3.00  -/So.OO 

/  coi^     .^^e^.^/iieuc/  "^^e^,  33       „         @  3.00  ^:/0.00...^3^0.00 

12 


A    *1 


111 


\\ 


90 


PRACTICAL    BOOK  KEEPING    FOR    YOUTH. 


Q^/^^i^^.  ^atn^a   "y^ai^icn   S^   ^o., 

rj^  fi<:ecea   ^c^U^melM,  ^40  y<zu6,  @   r.OO  ^40.00 

/^i^      C25^4^W    ^00       „        @      ./^ ^O.0O...^<SOO.OO 


S<AoaU^  (3^^*^ 


n. 


REMARKS  ON  CLOSING  THE  LEDGER. 


-~- —    %  1^^  >   I 


The  first  thing  is  to  take  an  inventory  of  all  the  property  on  hand,  of  every  description, 
at  cost,  or  at  the  present  value.  Having  ascertained  ihe  amount,  each  account  is  to  be  credited 
with  its  respective  amount  on  hand,  and  Balance  account  is  to  be  made  debtor  with  the  total 
amount  credited  to  each  account;  and  each  account  tlius  credited  is  to  be  closed  to  or  hy  Profit 
and  Loss  upon  that  account,  as  the  case  may  be.  For  instance,  having  added  to  the  credit  side 
of  Merchandise  account  the  amount  of  merchandise  on  hand  (viz.,  $3047.74,  see  Inventory- 
book),  it  shows  a  surplus  over  the  debtor  side  of  $566.85,  which  is  profit,  and  Merchandise  is 
to  be  debited  with  the  amount  of  gain,  and  Profit  and  Loss  is  to  be  credited  with  the  same 
amount.     (Apply  Rule  3 ;  see  the  Entries  for  Closing  the  Books,  p.  47.) 

Profit  and  Lo^s  is  to  be  credited  for  all  the  gains  on  the  difi-erent  accounts,  and  debited  for 
all  the  losses ;  and  all  fictitious  accounts,  such  as  Interest,  Commission,  and  Expense,  are  to  be 
balanced  Uy  or  ly  Profit  and  Loss,  for  the  gain  or  h,ss,  as  the  case  may  be.  It  is  then  ch>sed  to 
or  hy  Stock  account,  for  the  gain  or  loss  in  business.     (See  the  Entries  for  Closing,  p.  47.) 

Stock  is  made  debtor  for  Private  Account  for  tlie  balance  ;  and  Balance  account  is  made 
debtor  to  Sundries  for  all  the  balances  of  accounts  due  from  others  to  you,  together  with  Bills 
or  Notes  Receivable,  Merchandise,  and  Cash ;  and  Sundries  debtor  to  Balance  account,  for  the 
balances  of  all  accounts  due  from  you  to  otliers,  together  with  the  amount  of  Bills  or  Notes 
Payable.  Balance  account  is  then  closed  to  Stock  account  for  its  balance,  which  amount  is 
net  capital ;  which  having  been  done,  the  Books  are  balanced  and  closed.  (See  Closing  Trans- 
actions, p.  48.) 


,4   «i 


f  I 


^1 


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lilP  ^ 


92 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


^te^oc^  ot   (3^alemen^. — {First  Farm.) 


(^TimamJ  /no/  o^i^e  fr^e,   ^anua^  S  /  j    / o^ p. 


^^a/^MH    (33^Lcia<il,  /oi,  /Aouzfic^  ccue   of?^   a^^cottti'^. 

.Ji^c^uf  .^l^cecituo^/e,   -fot  ^au:i?ice  aue  on   G^t<>^ 

^a(^n.,  /oi'  u7nou?it  on,  nana,  aJ  ^lel    ^aa/t^-wMm. 

^'''Mc^nafiaci^,  ^i>  a?noun^  on  nane/,   au>  ^i^i,  Qyn'i^occa^M>on. . 


o/o^t  a?nou?i^  o/  .^^ioAei^y,  ^^nuai^y  Sf . 


(^anc^M£J  /^  of  erne,   ^niea^u  S/ ,   /§^p. 


ScCtoc'n   <^^'nco€/i,  ^l  ^uMtica  aua^  on  acc<Hcn^. 

jPooctman   .I:!^i^>on<>,    fi^i,  e^auzftce  a  tie  on  account. 

J^t^  Ji^ytz^u^,  /oi'  amount  c/ue  o^n^i<>  o?t    (3^^ . . . 

o/o/at  aynoun^  o^  c^uimMceJ,  ^u/iuai^y  S/ . 


Q/o^t  ci??iou?i^  o/^  ,:^2^ioAei,^y  cni^edlec/  c'n  ■t'icic/e,  ^afttKZiy   /. 


<^£^4Zt^cny  ^ne  7te€^  ^a/icAzf,  ^^nt/aiy  / 

&n^oioc?ra.  a?f  c'ndcaJe  o/^  .^^lo/tgi-ty  j^i,  ^nc  7/io?i^n^. 

.,^!!i!^i{k^a^  accof/n€^  ^  ue  acu/e</  /^lot  co/i*xu/eleci  aJ  a  u^  C7i 


cuHna  ^t^?t^^/ . 


(S/nott^cnO'  m^  aci-cn  en  c^u^cne/j  /o^i,  ^A^  -^/lon^A,. 


.^047 


4^7 
74 


P7 
74 


4^ 


^^p§ 


yM/ 


44^^ 


4(^^^ 


4^^ 


4(^0 


^2 


^P 


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4-S 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


93 


J:^te/i.o/./  01^    (^//ale//ienL — [Second  Farm ^) 


,3^I0CR    Ql/t. - . -C3%»^<r  ct7nou.?i/t  cnve^^ea,     /ufiuaiy   / . 
Stotfe  ^l^.-.S^o/a/aTnotcn^^  M^ed^,     £x^nti^i^y  /.... 


m^i!£4^/<^ ^  ci^^^  <zccou?h^  <^nottk>  u  a<zc/i,  o?t   ^^■'^ei^cuaiK/cdfi  /^h  ^ne 

'/non'fn.  i(o  oe 

.^^  on  ^c/6  Mececua^^,  i^-^.,  S^.  Moo^i^^^'d  G4^o^i:...:r S'.C?4 

€^ZA?iX^  on  Q/^n^le^^  accou7i€^,   UTnouji/'  ^  wzutnce .'.    u.^^ 

c^i£kKt€^  07t  &'x/t^nae  accoic7v^,  amoufi^  ■^  ^auz>7tcc » 77-^^ 

(^uoujcfiO'  7ie^  au^'/i,  e'?t  ^uac?i^^  ■/<^l  /ne  7non^n.... 

Q7^i07n  touccu  iXud^icu>^  ^u^  a7tioti,7i^  o/^  ^^H^ua-^^  (S^vccot/^n^. 


^^40 

/o4(^ 


00 


^6? 


^^^ 


/^/ 


4^00 


^O 


4^ 


(Sfnotacna,  an  CTtcieade  0/  J^2^/t^i^y  ^l  ^ne  ■77i^n^n'. 
&7Aoimn^  ^n^  7ie^  '^a^u^t  ^  /^e,  ^a7iuaiy  cf/ 


4^^ 


4^f 


4<^^ 


^C? 


p<s 


44^^ 


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INTENTIONAL  SECOND  EXPOSURE 


92 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


^^e^oil  ot   &n^a/emenl. — [First  Form.) 


(^uenc/ued  /na/  c^e  frte,    ^anaaty  S/ j    /o.^p 


'^a/fAcn   (^^^<zual,  /oh  dauznc^  c/ufi   o?7^   etcc&uti^. 

,^S^c/i^  .^^^c^c'ua/^^,  foi>  oaui7icfi  c/uc  on   CPA^^M 

^adn,  /ol  aniou?it  on  nana,  aJ  Jt^l     {Oa^^-w^ofi. 

(^/^^dc/ianc/coe,  i^^  amoutt^  on  da7n/,  aa  ^el  o/nt^occ^^oon, . 


g/o^/ a7nou?tt  o/  .£i^/ici^y,  ^antia^/Y  c^/- 


(^/une/z4€J  /^  ^ cme,   ^niiaty  3/ ,   /S^p, 


^047 


0(/toin   ..^L^ncotn,  y^^  ^auzncfi  at/^  o/t  accou?i^. -- 

^y^oc/rnan  .^SSloon<),  ^^  /Auuifice  c/uc  on  account. 

f^/^i  ,^^aya^^,  y^i  a^nounl^  aue  oln^iJ  on    (34^^ . . . 

<£/o^a/ a?noun^  o/  ,:^ca^e'u^ceJ .  ^a?iualy  c?/- 

<^^^ancna  /nc  ne^  ^aAc^t,  J^anuaAy  <9f 


d/o/a/ a??iou?i^  0/  .^loAei^^y  c?iz^ea^c/  c'n  ^lac^,  ^^nu<zly   / 

So^/ aTnoun^  0/ .^^^c/i^i^  a^  Mal^  ^c?nfi,  ^JkintMiiy  / 

.^^a^cna  ^4e  7ie^  '^a^c^f,  ^^^nuaiy  f 

(^^^i4>c??a  an  cficlecuie^  0/ ^£irioyteity  />l  -tne  7nonm 

,^^,^iAci/^  accof/n^  /o  ^  ac/c^c/  ^fio^  con^Hc^cied  aJ  u  u>^  en 
(/otna  o^cuXcn^y » 

(^^^iCozocna  -n^^  aacn  tn  /^u^cneji)  /o4,  lA^  fnofi^A, 


4P7 
74 


P7 
74 


^^40 


^P 
00 


^^p§ 


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^s 


44^^ 


400^ 


4^(^ 


s9 


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PRACTICAL  BOOK-KEEPING  FOR  YOUTH. 


93 


e^o/y/  06    ^3/ta^e//ie'M/. —  Second  Form.) 


win    KJi*---'^o^€  aniotc-fi/t  (l?hveAl^,  ^anualy  /. 
t0tk  ^X....ci7o/ct/arnotc,i^  M^e^^a,  ^nuai,y  /.... 


J^!£iof^^  d^  ,^£c^  accoufi^  dnoto<>  a  aa-c/i,  o?t   (^^^etcn^zncudfi   i^l  ^u^ 

'mofi/^n.  €0  oc 

c=^^  on  J^M  M^ce^ua/^,  ^x.,  S^.  Moo^^^'a  Q4%^...y^.04 

<^z^^  on  QJ^7i^i^'t  account,   a'mou7i€^ -^  oauznc^ J.    u.S^ 

.^z^^  07t   S'x/i^n^i^  accou7t^,  a-77ioa7t-t  -^  ^auzrtc^ 77-^^ 

&/notoc'//a'  ne^  aa^/h  c'7t  ^U4iC7tgu>  /oh  -^na^  -mon-tn. , 

Q^l07n  to/icc/i'  i^ud^lac^  ^n^  a77tou7i/^  o/  -^2%^k^<2^^  G^Zccot^n^. 


(2/notocna  an  C7iclea<^fi  o/  .^^^/t^i^u  />l  ^nc  'm<^n€n: 


^^4^  I  ^^ 


y^4(? 


C?^ 


^(^^ 


^Of 


§o 


4^ 


4^o 


4^ 


L 


400C? 


4<^^ 


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p<9 


44^^ 


P^ 


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if 


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II 


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NOTES  TO  THE  TRANSACTION  AND  EXPLANATION  BOOK. 


TRANSACTION      1. 

Note  A. — All  Notes,  Urafrs,  Cash  lieceipts,  Orders,  and  Bills  ot"  Merciiaadiae,  bought  or 
sold,  referred  to,  are  to  be  given  in  full  by  the  scholar,  so  that  tlie/^7?i  of  each  will  become 
perfectly  familiar. 

Note  B. — Mt/  or  7ne,  in  these  transactions,  means  the  author,  Edward  Martin,  or  the  person 
transacting  business. 

Note  C. — ^The  teacher  may  ask  the  following  questions,  an  simiUii-  ones,  in  enert/  transaction, 
if  thought  best,  viz. :  Which  side  in  the  Ledger  is  the  $5r>lr(>  to  be  posted?  and  also  the  Cash, 
Mercliandise,  Bills  Receivable,  James  Smith,  Cornelius  Whitman,  the  $1540,  Thomas  Chabe, 
Charles  Smith  &  Co.,  and  Bills  Payable  ? 


TRANSACTION    4. 


Note  D. — Have  omitted  making  the  entries  here  in  full,  but  the  quantity,  price,  and  amount 
of  eve?'y  article  sold  should  always  be  specified,  and  entered  in  the  Day-book  in  full. 


TRANSACTION    5. 

Note  K — Whenever  a  bill  of  merchandise  is  receipted,  if  part  or  all  of  it  has  been  paid  by 
cash,  there  is  no  Cash  receipt  to  be  given  or  received. 


TRANSACTION    0. 


i; 

!  1 


Note  K — A  Bill  Payable  is  my  own  Note  given  to  another,  and  is  due  from  me  to  another, 
instead  of  to  me  from  another,  and  is  a  bill  I  have  got  to  pay. 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


95  I 


Note  G. — A  '^  Bill  Receivable"  is  another  person's  Note,  and  is  due  to  me  from  another, 
instead  of  from  me  to  another,  and  is  a  bill  whioh  he  should  pay. 


TRANSACTION    9. 

Note  JT. — This  transaction  might,  or  could  have  been  entered  thus : 

Merchandise  Dr.  to  Sundries 400.00 

Bills  Payable,  for  my  Note,  <fec 200.00 

Bills  Receivable,  fur  D.  K.  &  Co.'s  payment  of  my  draft,  <fec. 200.00 

And  then  the  second  part — 

Bills  Receivable  Br.  to  Daniel  King  &  Co 200.00 

For  their  payment  of  my  draft,  <fec 200.00 

Note  W. — A  sight  draft  or  bill  is  presented  for  payment,  and  when  paid  or  received  is  to 
be  entered  as  Cash  (as  a  general  thing),  instead  of  saying  Bills  Payable  and  Bills  Receivable. 


TRANSACTION    15. 


Note  H. — Interest  account  being  a  branch  of  Profit  and  Loss,  would  seem  to  come  under 
that  head,  but  as  it  is  desirable  that  the  amount  of  interest  should  be  seen  or  appear,  I  shall 
therefore  call  it  a  thing  received  and  paid  out,  or  delivered.     (Apply  Rule  2.) 

Note  /. — ^AU  Notes  taken  up  should  be  filed  and  preserved.  The  name  should  not  be 
erased,  but  write  upon  the  same  ''jt>«^^,"  and  when. 


TRANSACTION    96. 


In  ote  J. — On  closing  the  books,  this  account  will  be  balanced  by  transfer  to  Stock  account, 
not  to  be  considered  as  a  loss  in  doina:  business. 


Note  S. — All  bankable  Notes  must  be  indorsed  by  the  holder  of  said  Note,  when  pre- 
sented, in  order  to  receive  the  money. 


♦  ! 


'I 
i. ' 

$1 


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>  11 


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96 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


TRANSACTION    11. 

Merchandise  Dr.  to  Sundries 150.00 

Cash,  for  amount  paid  Edwin  Lincoln 50.00 

Bills  Payable,  for  Note,  at  30  days  from  date,  to  Edwin  Lincoln,  both  in  payment  for  goods 

bought,  as  per  bill  of  12th 60  00 

Edwin  Lincoln,  for  balance  due  (time,  3  months) 60.00 

EDWIN    LINCOLN'S    ENTRY. 

Sundries  Dr.  to  Merchandise j  50.00 

Cash,  for  amount  received  of  E.  Martin 50.00 

Bills  Receivable,  for  E.  Martin's  Note,  at  30  days  from  date,  both   in  part  payment  for 

goods  sold 50  00 

Edward  Martin,  for  balance  due  on  goods  (time,  3  months) 60.00 


TRANSACTION    17. 

Sundries  Dr.  to  Merchandise 810.00 

Cash,  for  amount  received  of  C.  Hagar 500.00 

Bills  Receivable,  for  C.  Hagai's  Note  on  demand,  both  in  part  payment  for  goods  sold.. .  200.00 
Calvin  Hagar,  for  balance  due  on  goods  (time,  30  days) 110.00 

OALVIN    IIAGAR'S    ENTRY. 

Merchandise  Dr.  to  Sundries 810.00 

Cash,  for  amount  paid  E.  Martin 500.00 

Bills  Payable,  for  Note  on  demand,  both  in  part  payment  for  goods  bought,  per  bill 200.00 

Edward  Martin,  for  balance  due  on  goods  (time,  30  days) 1 10.00 


EXAMPLES    Foil    PIUCTICK. 


Q.  If  you  commence  business  with  Cash  only,  what  would 
be  your  entry  ? 

A.   Cash  Dr.  to  Stock,  for  amount  invested  in  trade. 

Q.  If,  at  the  commencement  of  business,  you  owe  Note  and 
James  Whitman,  what  would  be  your  entry  ? 

A.  Stock  Dr.  to  Sandries^viz.,  Bills  PayabUfor  my  Note,  and 
James  Whitman  for  balance  due. 

Q.  What  is  the  net  capital  with  which  you  commence  busi- 
ness in  the  above  ? 

A.   The  difference  between  Stock  credit  and  Stock  debtor. 
Q.  If  you  buy  goods  for  Cash,  what  is  the  entry  ? 
A.  Mercliandise  Dr.  to  Cash,  for  goods  bought. 
Q.  If  you  give  your  Note,  at  6  months,  to  Enoch  Howe,  in 
payment  for  goods  bought  of  him,  what  is  the  entry? 
A.  Merchandise  Dr.  to  Bills  Payable. 

Q.  If  you  take  up  the  above  Note  with  Cash,  what  i.s  the 
entry  ? 

A.  Bills  Payable  Dr.  to  Cash. 

Q.  If  you  buy  goods,  and  give  in  payment  Cash  and  Note 
you  hold  against  Abel  Allen,  what  is  the  entry  ? 

A.  Merchandise  Dr.  to  Sundries— viz..  Cash  and  Bids  Beceiv- 
able. 

Q.  If  I  am  owing  Daniel  Parker  (now  due),  and  give  him  in 
payment  my  Note  at  4  months,  interest  added,  what  would  be 
my  entry  ? 

A.  Sundries  Dr.  to  Bills  Payable— via.,  Daniel  Parker  and 

Interest. 

Q.  What  would  be  Daniel  Parker's  entry  ? 
A.  Bills  Receivable  Dr.  to  Sundries, 
Edward  Martin,  and 
Interest, 
Q.  If  I  exchange  Notes  with  Clark  Spaulding,  i.  e.,  give  him 
my  Note  at  4  months,  and  receive  his  for  the  same  amount  and 
time,  and  I  get  the  same  discounted  before  entering  it  upon  the 
books,  what  would  be  my  entry  ? 
A.  Sundries  Dr.  to  BiUs  Payable, 

Cash,       for  amount  received,  and 
Interest,      "       "        discmint. 
Q.  What  would  be  Clark  Spaulding's  entry  ? 
A.  Bills  Receivable  Dr.  to  Bills  Payable. 
Q.  Suppose  I  draw  a  sight-draft  on  James  Magoon,  and  be- 
fore entering  it  I  sell  the  same  to  Charles  Mann,  and  receive 
ready  Cash,  what  would  be  my  entry  ? 
A.  Cash  Dr.  to  James  Magoon. 


Q.  What  would  be  James  Magoon's  entry! 
A.  Edward  Martian  Dr.  to  Bills  PayahU,for  acceptance  of  kU 
draft. 

Q.  Suppose  I  give  Samuel  Blake  my  draft  at  sight  on  Geoige 
Brown,  what  is  my  entry  ? 

A.  Samuel  Blake  Dr.  to  George  Brown. 

Q.  What  would  be  Samuel  Blake's  entry! 

A.  Bills  Receivable  Dr.  to  Edward  Martin. 

Q.  What  would  be  George  Brown's  entry  ? 

A.  Edward  Martin  Dr.  to  Bills  Payable. 

Q.  If  I  should  sell  my  draft  on  George  Brown  to  Samuel 
Blake  at  par,  and  receive  from  him  my  Note  and  Cash,  what 
would  be  my  entry  i 

A,  Sundries  Dr.  to  George  Browfir—viz.,  Bills  PayaUe and  Cask, 
Or  it  might  be  entered  thus  : 

BUU  Receivable  Dr.  to  George  Brown;  and  then  make 
Sundries  Dr.  to  Bills  Receivable— i: is.,  Bills  Payable  and 
Cash.— (But  prefer  the  first  way.) 
Q.  James  Gilbert  draws  on  me  at  sight  in  favor  of  Charles 
Allen,  and  I  pay  the  draft  in  Cash  when  presented,— what  would 
be  my  entry  ? 
A.  James  Gilbert  Dr.  to  Cash. 

NoTR— Here  I  make  James  Gilbert  debtor  to  C*sh,  altbongh  be 
bad  no  Cash  paid  to  Iiim,  but  my  paytnent  of  bis  draft  show* 
why  he  is  made  debtor. 

Q.  If  I  had  entered  the  above  draft  before  paying  it,  what 
would  be  my  entry  ? 

A.  Janus  Gilbert  Dr.  to  BiUs  Payable,  for  my  acceptance  of 
his  draft. 

Q.  What  would  be  James  Gilbert's  entry  ? 
A.   Charles  Allen  Dr.  to  Edward  MaHin,  or 

BiUs  Receivable  Dr.  to  Edward  Martin  ;  and  then 
CJuirles  Allen  Dr.  to  Bills  Receivable. 
Q.  What  would  be  Charles  Allen's  entry,  if  not  entered  be- 
fore receiving  the  Cash  ? 
A.   Cash  Dr.  to  Janus  Gilbert. 

Q.  What  would  be  his  entrj-,  if  entered  before  receivine  the 
Cash?  ^ 

A.  Bills  Receivable  Dr.  to  Jam^s  Gilbert. 

Q.  What  would  be  his  entry  when   discounted  and  Cash 
received  ? 

A.   Cash  Dr.  to  Bills  Receivable. 

Q.  If  I  sell  merchandise  to  Charles  Kimball  on  book-account 
what  is  my  entry  ?  ' 


13 


rr 


98 


PRACTICAL    BOOK-KEEPING    FOR    YOUTH. 


A, 


A.  Charles  Kimball  Dr.  to  Merchandise. 

Q.  If  Charles  Kimball  should  pay  the  bill  of  merchandise, 
by  giving  np  a  Note  which  he  holds  against  me,  in  part  pay- 
ment, and  Cash  for  the  balance,  what  would  be  my  entry  I 
A.  Sundries  Dr.  to  Charhs  Kimball^ 
Bil's  Pa'inhh  and  Cn^h. 
What  would  be  Charles  Kimball's  entry? 
Merchandise  Dr.  to  Sundries, 
Bills  Receivable  and  Cash. 
Q.  If  I  buy  goods  of  B.,  and  pay  for  the  same  by  giving  my 
draft,  at  sight,  on  Edmund  Burke  for  part,  my  Note  for  part, 
and  Cash  in  full,  what  entry? 
A.  Merchandise  Dr.  to  Sundries, 

Edmund  Burke,  for  his  payment  of  my  draft,  ete.^ 
Bills  Payable,      "  my  Note, 
Cash,  *^^  for  amount  paid  in  full. 

Q.  "What  entry  would  B.  make  ? 
A.  Sundries  Dr.  to  MercJiandise, 

BUls  Beceivahle  {viz.,  F.  Martinis  draft  and  note)  and 
Cash. 
What  would  be  Edmund  Burke's  entry  ? 
Bdward  Martin  Dr.  to  Bills  Payable. 
If  Edmund  Burke  should  fail,  and  B.  should  agree  to 
discharge  him  in  full  for  amount  of  his  claim,  in  consideration 
that  he  should  pay  one-half  in  Cash,  what  would  be  B.'s  entry  ? 
A.  Sundries  Dr.  to  Bills  Eeceitabie, 
Cash,  for  amount  received,  and 
Profit  and  Loss,  for  amount  of  loss. 
What  would  be  Edmund  Burke's  entry  I 
BiUs  Payable  Dr.  to  Sundries, 
Cash,  for  am/mnt  paid,  and 
Profit  and  Loss,  for  the  balance  (gain). 
If  I  obtain  a  discount  oil  my  own  Note  at  the  Bank,  what 
is  my  entry  ? 

A.  Sundries  Dr.  to  Bills  Payable,  viz.,  Cash  and  Interest. 


Q- 
A. 

(2. 


A. 


C. 


Q.  If  I  should  get  James  Lawins'  Note  (which  I  hold  against 
him)  discounted  at  the  Bank,  what  would  be  my  entry  ? 
A.  S>/ndn'es  Dr.  to  Bills  Receivable — viz.,  Cash  and  Interest. 
Q.  Why  do  I  make  a  ditference  on  my  own  Note  discounted, 
from  that  inaide  upon  obtaining  a  discount  on  a  Note  due  to  me 
by  another  ? 

A.  Because  when  I  receive  a  Note,  it  is  due  from  another  to  me, 
atul  m  iiutdt  debtor  to  Bills  Receivable  ;  and  when  it  is  disposed 
of,  BUls  Receivable  must  be  credited.  But  when  I  give  my  oxen 
Note,  it  is  due  from  m4  to  another,  and  is  called  Bills  Payable  ; 
and  when  I  receive  any  thing  for  which  I  give  my  own  Note,  the 
thing  received  is  made  debtor  to  Bills  Payal-le  for  the  amount 
received. 

Q.  Sold  goods  to  Edwin  Kimball,  for  which  I  have  received 
in  payment  my  Note   (given  up),  his  own  Note,  order  on 
William  A.  Bacon,  at  80  days  (accepted ),  and  Cash  in  full,— 
what  is  my  entry  ? 
A.  Sundries  Dr.  to  Merchandise^ 
Bills  Payable, 
Bills  Receivable, 
William  A.  Bacon,  and 
Cash. 
Q.  What  would  be  Edwin  Kimball's  entiy  ? 
A.  Merchandise  Dr.  to  Sutidries, 
Bills  Receivable, 
Bills  Payable, 
William  A.  Bacon,  and 
Cash. 
Q.  What  would  be  William  A.  Bacon's  entry  ? 
A.  Edwin  Kimball  Dr.  to  Edward  Martin. 
Q.  At  the  end  of  8u  days,  1  received  Cash  of  William  A. 
'Bacon  for  amount  of  order,  what  is  my  entry  ? 
A.  Cash  Dr.  to  William  A.  Bacon. 
Q.  What  would  be  William  A.  Bacon's  entry  i 
A.  Edward  Martin  Dr.  to  Cash. 


1  T'-nT  VT*  if  r  1   1  "^  ^*i<i- -I'l  • ' .sm 


^£± 


MERCANTILE    FORMS    OF    SUNDRIES 


NOT  USED  IN  THE  PRECEDING  TRANSACTIONS. 


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.^tti^na^n.,    ^l^^.,  ^arvuxz^lu    /^,    /cfe^. 


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PRACTICAL    BOOK-KEEPING    FOR    YOUTH, 


M^cccucc/  o^  ci^   ^.     (Mna/C  ^wcUy    c^o^ia,    ^<?    ^    cnc^i^^  an    /e^    Q4^<^    o/ ^^ 


^/06?.<P(9 


(2>^i    va^t^    iac^e^v^,    we    Auy^nu^    ^    Yuty    ^atnc^ij   Q/^^la^^,   oi    aic^i,    an^    ^ncAe<^ 


CMU^ta  Oft.  cce^ma/ic/,   tuc^^  c'/t/sfil^J^  etrtnuaufu. 


0Mun^    ^fne^mafh   of  H^o, 


©T^  .0L^uao/e  i'n  ©^t&icnan^/use. 


^ /(?{?.{?{? 


^ui/i'7t^,t,   (^^.,  Q^^^u^t^y,  /^^^. 


&YuvYy    cAiya    aJtel    </a^,    Q/^ ^ionu^    /t>  ^ay   Q^^^aa€<f  .^i^^n^a^,  oi    oic/el,  one   ^uru/uc^ 

Man^/Q^:  S^en^i{^w. 


^y(?o.^{? 


.JZtecu^  Aay  Yio    &UJ7iaiia     Jf^itc^?i^y  ofie  nuncUea  </o^zla  on  -my  eicc<>un^,  anc/  muon 


^u^c/i    ^'n^i 


^ut-n. 


rr. 


DO  UBLE  ENTRY, 


TRANSACTION  BOOK. 


SET  SECOND. 


The  pupil  should  be  required  to  write  out  in  foil,  all  the  BiUs,  Drafts,  and  Accounts  Current 
and  other  statements  connected  with  the  several  transactions;  and,  at  the  close  of  the  month's 
business,  to  make  out  an  inventoi^-  of  the  Mdse.  on  hand,  and  to  close  the  books  in  accordance 
With  directions  on  page  91.  ^v/iuauce 

The  pupil  is  supposed  to  engage  in  a  speculative  business,  buying  and  seUing  chiefly  pro- 
duce and  fruit,  foreign  and  domestic.  ''     "^  ^       ^""J  ^^"^ 

Ti,  .      1.     .  Brooklyn,  Jan.  2d,  1871. 

1  nave,  on  commencing  business — 

500  bbls.  Greening  Apples,  which  cost  $3.00  per  bbl. ; 
260     «     Eusset  «        @  $1.50 ; 

600     "     Potatoes,  @  $2.00  ; 
500  cans  Peaches,  @  25c. ; 
1,000  boxes  Grapes,  @  50c. ; 
and  have  deposited  in  the  Atlantic  National  Bank,  $2,100. 

Bought  of  Samuel  Bice  on  my  note  @  4  mos.,  without  interest,  payable  @  Atl  Nat  Bank 
Brooklyn,  1,000  bbls.  Potatoes,  @  $1.90.  ^^  ^  ^^"^^^ 

^mX  P  ."^'^^T  ^'^?''  ^'^^^  ''^'  -^omm^,,  @.18c.;  1,500  cans  Sweet  Corn,  @  15c  • 
100  tubs  Prime  Butter,  each  100  lbs.,  @  30c.,  and  150  Cheeses,  avemging  25  lbs.,  @  ioc  and 
paid  him  Cash,  $1,500,  and  my  note  on  demand  for  the  balance  ' 

Sold  Thos.  Chase  for  Cash,  50  bbls.  Potatoes,  @  $8.00  ;  50  bbls.  Rnssets,  @  $2.00 :  100  bbls 
Greenings,  @  $4.00.  '  ^  ^' 


Jan.  3. — Sold  Calvin  Hagar  on  his  note  @  3  mos.,  without  interest  clause,  indorsed  by  Thomas 
Chase,  payable  @  Merchants'  National  Bank,  T^ew  York — 

500  boxes  Grapes,  @  65c. ; 
300  cans  Sweet  Coni,  @  20c. ; 
150     "    Peaches,  @  40c. ; 
200     "     Tomatoes,  @  25c. 
Sold  Calvin  Holmes  on  his  note  @  30  days,  without  interest,  drawn  in  favor  of  myself,  and 
payable  at  Atl.  Nat'l  Bank,  Brooklyn,  25  bbls.  Greenings,  @  $3.50;  25  bbls.  Russets,  @  $1.75; 
25  bbls.  Potatoes,  @  $3.00 ;  100  cans  Peaches,  @  40c. ;  and  100  boxes  Grapes,  @  64c. 

Jan.  4. — ^Discounted  at  Atl.  Bk.  Calvin  Hagar's  note  of  the  3d  inst.,  also  that  of  Calvin 
Holmes,  receiving  Cash.  ?    (Cash  and  Int.  Drs.  to  Bills  Receivable). 

Sold  Daniel  King  &  Co.,  1,200  lbs.  Cheese,  @  12c. ;  2,000  lbs.  Butter,  @  40c. ;  100  bbls. 
Greenings,  @  $3.60,  and  received  of  them  Cash,  $200,  and  their  draft  for  the  balance  on  Wood- 
man Brooks,  duly  accepted. 

Sold  Edward  Lincohi,  15  tubs  Butter,  @  38c.  per  lb. ;  1,000  lbs.  Cheese,  @  12^. ;  100  bbls.  Rus- 
sets, @  $2.20 ;  200  bbls.  Potatoes,  @  $3.10 ;  150  cans  Tomatoes,  @  25c. ;  and  bought  of  him  1,500 
lbs.  Honey,  @  30c. ;  500  lbs.  Almonds,  @  10c. ;  and  200  boxes  Raisins,  @  $1.80.  Reed,  his  note 
indorsed  by  Jno.  Pell,  @  30  days,  payable  @  Atl.  Nat.  Bk.,  Brooklyn,  for  the  balance,  he  allow- 
ing the  regular  bank  discount ;  the  sale  being  on  a  Cash  basis.  Note  drawn  for  $717.10. 
Jan.  5. — Sold  James  Magoon  for  Cash — 

400  boxes  Grapes,  @  65c. ; 
600  cans  Tomatoes,  @  28c. ; 
500  lbs.  Honey,  @  35c. ; 
100  bbls.  Greenings,  @  $3.50  ; 

and  bought  of  him — 

8,000  lbs.  Cheese,  @  9ic. ; 
100  tubs  Butter,  Or.  Co.,  12,000  lbs.,  @  40c. 
Jan.  6.— Sold  John  Smith  1,000  lbs.  Cheese,  @  12c. ;  50  tubs  Or.  Co.  Butter,  6,000  lbs,  @ 
43c. ;  85  bbls.  Russets,  @  $2.10,  and  received  of  him  his  note  on  demand,  payable  at  his  store,  for 
the  amount,  note  indorsed  by  John  Philips. 

Paid  bills  of  Cooper,  Carman,  and  Drayman,  $141.50. 
Took  for  family  consumption — 

1  tub  Or.  Co.  Butter,  120  lbs.,  (cost)  40c. 

1  Cheese,  25  lbs.,  "      OJc. 

6  bbls  Greenings,  "   $3.00 

10  cans  Tomatoes,  "      18c. 

5  bbls.  Potatoes,  "   $2.00. 

Jan.  7. — Sold  for  Cash,  45  tubs  Or.  Co.  Butter,  @  45c.  per  lb. ;  65  tubs  Prime  Butter,  6,5U0 

lbs.,  @  40c. 


;L_.. 


I 


PRACTICAL   BOOK-KEEPING   FOR   YOUTH. 


103 


Jan.  9.-Ja^.  Smith  cashed  his  note  of  the  6th  inst.  Paid  Cash,  $2,532,  on  the  presentation 
of  my  note  ot  the  6th  inst.  to  Woodman  Brooks.  . 

Sold  Chas.  Smith  &  Co.  300  bbls.  Potatoes,  @  $3.00 ;  250  cans  Peaches,  @  40c. ;  1,200  cans 
Corn,  @  20c. ;  540  cans  Tomatoes,  @  25c. ;  6,525  lbs.  Cheese,  @  12c. ;  and  received  their  ac- 
cepted draft  on  Samuel  Rice  for  $2,158. 

Jan.  lO.-Sent  Check  on  Atl.  Nat.  Bank,  Brooklyn,  for  85,560,  to  cover  draft  of  the  5th  inst. 
Jan.  11.— Bot.  of  S.  Raymond  cargo  of  fruit,  as  follows : 

1,000  boxes  Lemons,  @  $1.25  ; 
1,000     "      Oranges,  @  95c. ; 
6,000  Cocoa-nuts,  @  10c. ; 
1,000  bunches  Bananas,  @  40c. ; 
2,000  Pine-apples.  @  15c. ; 
and  paid  him  Cash  $4,000 ;  my  note  on  demand  for  $1,400 ;  and  received  my  own  note  of  the 
2d  inst.,  drawn  in  favor  of  S.  Rice,  for  $1,900. 

Jan.  13.— Sold  Daniel  King  &  Co.,  on  account — 

1,000  lbs.  Honey,  @  40c. ; 
480  lbs.  Butter,  @  45c. ; 
1,000  cans  Tomatoes,  @  25c. ; 
169  bbls.  Greenings,  @  $3.60 ; 
520  bbls.  Potatoes,  @  $2.50. 

h-    "^T*  ^fZ^""^^  ^^^':  ^^^'^  ^^^  ^^^'-  ^^*^^^^''  @  ^^-^^ '  2'^^^  lb«-  Cheese,  @  14c.  ;  and  reed, 
his  note  at  30  days,  without  interest,  for  $780,  and  charged  the  balance  to  his  ^t 

Jan.  16.— Paid  Lighterage,  Drayage,  etc.,  $192. 

*,  nnn"-  ^^■~^°';  ^Y^'   ^^^  ^'^  ^°-  ^""^'•'  @  **'''•'  °*'  Calvin  Hagar,  and  paid  hin.  Cash 
$1,000,  my  note  for  $1,000,®  3  mos.,  payable  at  Atlantic  Natl.  Bank,  Brooklyn,  indl^  by 
Daniel  Kmg  &  Co. ;  disct.  allowed  on  said  note,  $18.     And  sold  hia.  Mdse.  .s  follows : 

700  boxes  Lemons,  @  $1.40; 
400      «      Oranges,  @  $1.20; 
3,000  Cocoa-nuts,  @  15c. ; 
200  bunches  Bananas,  @  50c. ; 
40  Pine-apples,  @  20c. 

560'S:e'a^i:^^         ^'^^^  ^"  ''''^  '''  ''''  ^^--^^'  ^^  ^^-  ^  ^^^  ^^es  Raisins,  @  $2.40  : 

,-n/^"H^T^*T^'f  •  '^  ^'"''\  ^'""^  ^  ^^-  ^"'^'  ^^^^-^^^  ^"^  '^^'  »^t^  ^ov  $2,035,  @  3  mos 
indorsed  by  Woodman  Brooks,  they  allowing  discount  of  $35.  ' 

Jan.  20.— Sold  Thos.  Chase  on  acct.— 

^^,000  lbs.  Or.  Co.  Butter,  @  43c. ; 

200  Pine- apples,  @  20c. ; 

200  bunches  Bananas,  @  50c. ; 
1,500  Cocoa-nuts,  @  18e. 


104 


PRACTICAL   BOOK-KEEPING   FOR   YOUTH. 


Borrowed  Cash,  $1,200,  of  Woodman  Brooks. 

Sold  Daiil.  King  &  Co.  200  lbs.  Almonds,  @  16c. ;  100  boxes  Raisins,  @  $1.80  ;  300  boxes 
Lemons,  @  $1.50  ;  200  boxes  Oranges,  @  $1.20. 

Jan.  24.— Sold  Calvin  Hagar  400  boxes  Oranges,  @  $1.20 ;  1,500  Cocoa-nuts,  @  13c.,  and  paid 
him  my  note  of  the  17th  inst.,  drawn  in  his  favor,  he  allowing  $16.50  discount. 
Took  on  private  acet.  Cash,  $150,  and  100  lbs.  Butter,  @  cost. 

N-  ^- — It  is  expected  that  the  pupil  will  have  kept  a  schedule  of  radse.  purchased,  on  which 
he  will  have  checked  off  the  quantities  sold  at  various  times,  thus  keeping  himself  informed  of 
amts.  on  hand,  and  having  data  for  the  final  inventory. 

Jan.  25.— Bought  in  Bond  of  Woodman  Brooks  for  Cash,  12,000  lbs.  Wool,  @  35c.,  and  sold 
the  same  for  Cash  this  day,  @  38c.  (in  Bond.)  Expense  at  Custom  House,  $12.  Paid  Woodman 
Brooks  Cash,  $4,300.     N.  B.— Include  expense  in  cost  of  Mdse. 

Jan.  26. — Thomas  Jones  has  lent  me  Cash  for  3  days,  $7,620. 

Bought  for  Cash  cargo  of  Rice  in  Bond,  120,000  lbs.,  @  6c.  Paid  duties,  $300;  other  ex- 
penses, such  as  breaking  out,  &c.,  $120  ;  and  sold  the  same  to  Danl.  King  &  Co.  on  acct.,  @  7c. 
Pupil  will  add  the  expenses  mentioned  to  the  cost  of  the  Mdse. 

Jan.  27. — Sold  Woodman  Brooks  on  acct.,  1,500  Cocoa-nuts,  a  14c. ;  600  bunches  Bananas, 
@  50c. ;  and  1,200  Pine-apples,  @  20c. 

Jan.  28. — Bot.  600  cans  Tomatoes,  @  14c. ; 
1,000     "     Peaches,  @  25c. ; 
1,000    ''    Sweet  Corn,  @  15e. ; 
1,000     "     Plums,  @  20c.; 
and  paid  Cash,  $200,  and  my  draft  at  sight  on  Woodman  Brooks,  for  $484. 

Jan.  29.— Sold  for  Cash,  5,900  lbs.  Butter,  @  45c.  Settled  with  T.  Jone^  for  amt.  borrowed 
on  the  26th,  I  allowing  him  interest,  $10,  by  giving  him  my  note  with  interest  clause  @  30  days, 
payable  at  Atlantic  National  Bank,  Brooklyn,  for  $4,630,  and  paying  him  Cash,  $3,000. 

I  have  Mdse.  on  hand  which  cost  $684. 

Pupil  will  close  the  Ledger  according  to  directions  on  p.  91  Smith  &  Martin's  Double  Entry 
Book  and  Closing  Transactions  p.  48. 


PRACTICAL  BOOK-KEEPING  FOR  YOUTH. 


105 


Dr. 


29,392 

36,083 

7,220 

10,992 

39 

333 

270 

3,426 

675 

6,154 

2,158 

12,076 

7,620 

116,440 


12 


85 


03 
50 
18 
60 


40 
00 


TRIAL     BALANCE. 


68 


Stock 

Cash , 

Mdse 

BiUsRec 

«     Payable 

Interest 

Expenses 

Private  Acct 

Thos.  Chase 

Calvin  Hagar 

Woodman  Brooks. 

Samuel  Eice 

Daniel  King  &  Co 
T.  Jones 


5,815 
35,391 
42,389 

3,688 

17,022 

56 


1,684 


2,774 

7,620 


116,440 


Or. 


43 
75 

00 
10 


40 
00 


68 


F 


J 


,   .^-y.    ..-     ., 


ti      n»-  ■■■   11  I- 


DO  UBLE  ENTRY, 


SET   THIRD. 


TRAJNTSACTIOJSr  BOOK. 

James  Brown,  John  Jones,  and  Charles  Robinson  enter  into  co-partnership,  with  a  view  to 
the  carrying  on  of  a  wholesale  Grocery  and  Commission  business.  Brown  puts  in  $2  000  Cash  • 
Jones,  $4,000,  in  Merchandise ;  and  Robinson  $500,  Casli.  Each  agrees  to  devote  his  time  to  the 
busmess,  and  each  is  to  have  an  equal  share  in  the  profits.  No  interest  to  be  claimed  by  either 
party  on  the  several  amounts  originally  furnished  by  the  partners. 
June  2.— Sold  Robt.  Thomas  1  bbl.  Mackerel,  $13 ;  1  quintal  Fish,  $6;  10  bush.  Salt  @  $1  •  1 

bbl.  Sugar,  $25 ;  1  bbl.  Pork,  $20.     Reed,  his  note  at  3  mos.  for  the  amt.  and  as  much 

as  will  cover  the  regular  bank  disct.     N.  B.— The  pupil  will  make  out  a  receipted  bill  • 

draw  the  note  to  the  order  of  B.  J.  &  R.  for  $75.32.   Journalize  thus  :  Bills  Receivable  • 

Dr.  to  Sundries;  viz.:  Mdse.,  $74,  and  Interest,  $1.32. 
Sold  Amos  Thompson  on  account  100  lbs.  Butter,  @  30c. ;  40  lbs.  Cheese    @  12c  • 

100  lbs.  Lard,  @  20c.,  and  1,000  Eggs,  @  $2  a  hundred. 

James  Brown  takes  for  private  account  Mdse.  valued  @  $40. 
June  3.-Sold  Edgar  Thomas  for  Cash  2  bbls.  Molasses,  @  $20;  1  bbl.  Sugar,  $30;  2  quintals 

Fish,  @  $6.     K  B.— Pupil  to  make  out  receipted  bill. 
Bought  120  gals.  Syrup,  @  90c.  ;  1,000  lbs.  Butter,  @  25c. ;  500  lbs.  Lard,  @  15c  •  and 

gave  our  joint  note  @  60  days  for  the  amt.     No  interest  allowed  by  us. 
-Exchanged  notes  with  Edgar  Thomas,  each  drawn  for  $300  @  60  days.  The  parties  thus 

avail  themselves  of  each  others'   bank    credit    by  securing  each  othere'  indorsement. 

Ihe  pupil  will  draw  notes  to  satisfy  the  conditions. 

Sold  Thomas  Adams  20  gals.  Syrup,  @  $1.10;  50  lbs.  Butter,  @  35c. ;  100  lbs  Cheese 

@  13c. ;  1  bbl.  Sugar,  $32,  and  received  in  payt.  Cash,  $24.50,  and  his  order  on  Ed^ar 

Thomas  for  the  remainder.     Vide  "Order  for  Cash,"  p.  100. 


(( 


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« 


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4( 


June  7.- 


ii 


a 


PRACTICAL  BOOK-KEEPING  FOR  YOUTH. 


107 


June  7.- 

June  8.- 

u  u 

June  10. 

a   u 

«   u 

June  12. 


"     13.— 1 


June 

15. 

<( 

« 

June  16. 

« 

a 

"    17.— 


"    18.— 


a      a 


"     19.— 


a       u 


"    23.—; 


-Chas.  Robinson  took  on  private  account  Cash,  $25.     Jno.  Jones  took  on  private  account 
Mdse.,  $40.  ^ 

Sold  Amos  Thompson  40  gals.  Syrup,  @  $1.20 ;  500  lbs.  Butter,  @  35c. ;  100  lbs.  Lard 
@20c.;  and  received  Cash,  $150;  his  note  on  demand  for  $50 ;  and  credited  him' 
with  work  on  store  fixtures  for  the  balance  on  this  transaction.^ 
Discounted  Edgar  Thomas's  note  of  the  7th,  at  the  Mechanics'  Bank. 
-Bought  for  Cash  40  bbls.  Flour,  @  $5,  and  20  bbls.  Com  Meal,  @  $3. 
Discounted  our  own  note  of  the  7th  inst.,  the  payee  allowing  discount,  $3.50. 
Sold  Mdse.  to  Geo.  Swift  to  amt.  of  $400,  and  received  in  payment  an  old  note  made 
by  Jno.  Jones  in  favor  of  said  Geo.  Swift  for  the  amt.     Said  note  was  cancelled,  and 
J.  Jones  debited  to  amt. 

-Sold  Merchandise,  $600,  and  received  in  payment  our  note  of  the  3rd  inst.,  we  saving 

discount,  $4.50,  and  Cash,  $171.50.     Journalize  after  finding  disct. :  B.  Payable  and 

Cash  Drs.  to  Mdse.  and  Interest. 

Sold  Reid  Sanders  50  bbls.  Flour,  @  $8 ;  15  bbls.  Meal,  @  $4 ;  4  bbls.  Syrup,  @  $30  • 

6  bbls.  Mackerel,  @  $14;  500  lbs.  Butter,  @  40c. ;  400  lbs.  Cheese,  @  15c. ;  and  reed. 

m  payment  Cash,  $224,  and  draft  on  Geo.  Stout  (accepted)  for  $700. 

-Sold  Ames  and  Angell  on  their  note  @  60  days,  Mdse.  amounting  to  $600 

Bought  Merchandise  valued  at  $1,000  per  invoice ;  in  payment  gave  Ames  &  AngeU's 

note,  allowing  regular  bank  discount,  and  our  own  note  on  demand  for  the  balance. 

-Sold  Henry  R.  Pierson  on  his  note  @  6  mos.,  Mdse.  to  amount  of  $345.60. 

Sold  Chas.  Denman  on  account,  Mdse.,  $468.32. 

^Sold  Mdse.  amounting  to  $796  to  Amos  Thompson,  and  received  from  him  Cash 

$196,  his  note  on  demand  indorsed  by  John  Philips  for  $200,  and  debited  him  with 

the  balance. 

Bought  of  Charles  Thompson  Mdse.  valued  at  $200,  and  gave  in  payment  Robert 
Thomas  s  note  of  June  2d,  we  allowing  discount,  $1.12,  and  Cash,  $125.80.      Journal- 
ize  thus:   Mdse.,  Dr.,  $200;   Int.,  Dr.,  $1.12;    Bills  Rec,  Cr.,  $75.32,  and  Cash 
Cr.,  $125.80.  ' 

Accepted  Roger  Bacon's  draft  on  us  in  favor  of  Allen  Kemp  @  10  days  after  sight, 
lor  $o4^. 

Reed,  per  Isaac  Newton  Mdse.  valued  per  invoice  @  $400,  to  be  sold  on  account  of 
Consignor,  Jas.  Smith,  of  Albany.  We  paid  Freight,  &c.,  $25.  Journalize  thus :  Jas. 
Smith's  Consigt.,  Dr.,  to  Cash,  $25. 

Shipped  Mdse.  invoiced  @  $600,  per  Harlem  R.R.,  to  Jas.  Smith,  of  Albanv,  to  be 
sold  on  our  account.  Expended  for  Cartage,  &c.,  $28.  Journalize  thus :  Consignment 
to  Albany,  Dr.,  $628 ;  to  Mdse.,  $600 ;  to  Cash,  $28. 

Sold  for  Cash  Mdse.  consigned  by  James  Smith,  $500.      Our  commission,  @  5  p  c 
is  $25 ;  Storage,  $15.    Made  up  Acct.  Sales,  and  sent  with  it  Cash  for  balance  $435* 


June  24. — '. 


(( 

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Keceived  from  James  Smith  account  Sales  of  our  consignment  of  the  19th,  the  net  pro- 
ceeds being  $660,  for  which  he  has  remitted  a  check  on  the  State  Bank,  Albany. 

■Bought  Mdse.  of  Geo.  Stout  on  acct.,  bill  rendered  for  $600. 

-Petty  sales  of  Mdse.  for  Cash  during  the  past  month  have  amounted  to  $630.     We 
have  paid  for  Store  Expenses,  $175. 

-We  have  paid  Roger  Bacon's  draft  of  the  XTth. 

Bought  Mdse.  invoiced  @  $3,000  for  Cash. 

Paid  for  Freight  and  Cartage,  $100. 

James  Brown  took  on  private  acct.  Cash,  $78. 

Jno.  Jones         "  «         "        "     $100. 

Chas.  Eobinson "  "         "    Mdse.  $200. 

Sold  Merchandise  for  Cash,  as  per  Sales-Book,  $2,461. 

Took  up  our  Kote  of  the  15th  inst.,  paying  Cash,  $407.35. 

We  have  Mdse.  inventoried  @  $1,880  ;  and  Cash  on  hand,  $2,197.67. 

Int.  Dr.,  $12.15 ;  Cr.,  $9.32,  etc.,  etc. 

A  complete  statement  should  show — 
Jas.  Brown,  Cr.,  $2,149.09. 
Jno.  Jones,  Cr.,  $3,727.09. 
Chas.  Robinson,  Cr.,  $542.09, 


!l 


June  24. — ^^ 


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Received  from  James  Smith  account  Sales  of  our  consignment  of  the  19th,  the  net  pro- 
ceeds being  $660,  for  which  he  has  remitted  a  check  on  the  State  Bank,  Albany. 

-Bought  Mdse.  of  Geo.  Stout  on  acct.,  bill  rendered  for  $600. 

-Petty  sales  of  Mdse.  for  Cash  during  the  past  month  have  amounted  to  $630.     We 
have  paid  for  Store  Expenses,  $175. 

-We  have  paid  Eogor  Bacon^s  draft  of  the  ITth. 

Bought  Mdse.  invoiced  @  $3,000  for  Cash. 

Paid  for  Freight  and  Cartage,  $100. 

James  Brown  took  on  private  acct.  Cash,  $78. 

Jno.  Jones  "  «  «         «     $100. 

Chas.  Eobinson «  ««         «    Mdse.  $200. 

Sold  Merchandise  for  Cash,  as  per  Sales-Book,  $2,461. 

Took  up  our  Note  of  the  15th  inst.,  paying  Cash,  $407.35. 

We  have  Mdse.  inventoried  @  $1,880 ;  and  Cash  on  hand,  $2,197.67, 

Int.  Dr.,  $12.15 ;  Cr.,  $9.32,  etc.,  etc. 

A  complete  statement  should  show— 
Jas.  Brown,  Cr.,  $2,149.09. 
Jno.  Jones,  Cr.,  $3,727.09. 
Chas.  Robinson,  Cr.,  $542.09, 


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END  OF 
TITLE 


